• Despite gaining Tuesday, currency is still on track for its worst month since August 2024 due to recent market uncertainty
• USD/MXN one-month implied volatility is at 12.865%, down from 13.545% on Monday
• USD/MXN 200-DMA currently around 18.1849; 100-DMA 17.7863; 50-DMA 17.4892

An investigation into a hydrocarbon spill in the Gulf of Mexico has so far not encountered a leak at a Pemex offshore installation, says President Claudia Sheinbaum during morning press conference

Mexico’s gas station owners denied having accepted a voluntary price cap on diesel fuel announced earlier by Sheinbaum, Bloomberg Linea reported citing unnamed industry sources

WTI crude futures climb 1.6% to $104.53 per barrel

Mexican economic data (All times Mexico City local):
<ul>
09:00: March International Reserves Weekly, actual $254.1b, prior $254.4b

09:00: Feb. Net Outstanding Loans, actual 7.25t, prior 7.24t,revised 7.24t

US economic data (All times Mexico City local):
<ul>
07:00: Jan. S&P Cotality CS US HPI YoY NSA, actual 0.91%, prior 1.27%, revised 1.13%

08:00: Feb. JOLTs Job Openings, actual 6.88m, est. 6.89m, prior 6.95m, revised 7.24m

08:00: March Conf. Board Expectations, actual 70.9, est. 68.4, prior 72.0, revised 72.6

08:00: March Conf. Board Present Situation, actual 123.3, est. 118.0, prior 120.0, revised 118.7

08:00: Feb. JOLTS Layoffs Rate, actual 1.1%, est. 1.1%, prior 1.0%

08:00: Feb. JOLTS Layoffs Level, actual 1.72m, est. 1.67m, prior 1.63m, revised 1.66m

08:00: Feb. JOLTS Job Openings Rate, actual 4.2%, prior 4.2%, revised 4.4%

08:00: Feb. JOLTS Quits Level, actual 2.97m, est. 3.12m, prior 3.14m, revised 3.13m

08:00: Feb. JOLTS Quits Rate, actual 1.9%, est. 2.0%, prior 2.0%

08:30: March Dallas Fed Services Activity, actual -13.3, est. -4.6, prior -3.2

Reporting by Kelsey Butler