Banxico keeps rates unchanged at 7.5% as per expectations

• Mexican Central bank kept rates unchanged at 7.5% as her expectations
• The decision was unanimous
• prioritizes the MXN impact on CPI ahead of Fed posture
• probability of negative NAFTA outcome reduce recently
• NAFTA, Fed, election present MXN and CPI risks
• Lists agricultural prices, labor costs among additional MXN and CPI risk
• CPI slowdown so far in 2018 in line with expectations
• Mexican economy is in best position to face shocks
• Mexico economy faces complicated panorama going forward
• private demand has continued to expand this year
• balance of risks to Mexico economy maintains downward bias
• data show services, some industrial driving economy

The USDMXN remains below the 100 week MA at 18.92651. The pair has been testing the 38.2% of the move up from the 2013 high at18.17502, but above the 2017 and 2016 lows at 17.4461 and 17.0472 respectively.