• Mexican Peso strengthens against US Dollar, drawing below significant levels last seen in October 2015.
• The first presidential debate highlights the contrast between Claudia Sheinbaum's and Xochitl Galvez's visions for Mexico's future.
• Upcoming economic indicators from Mexico and the US, including inflation and industrial data, set to provide further market direction.

The Mexican Peso appreciates further against the US Dollar on Monday with Peso buyers breaching the October 2015 high after overcoming the psychological 16.50 figure. On Monday, a light economic docket on both sides of the border keeps the USD/MXN downtrend intact. At the time of writing, the pair exchanged hands at 16.31, down 0.79%.

On Sunday night, Mexicans were captivated by the first presidential debate, held at the Instituto National Electoral, headquarters of the election oversight body. The debate centered around the two women leading the polls, Claudia Sheinbaum of the ruling party Morena and Xochitl Galvez, who helms a multiple-party coalition.

Sheinbaum touted her tenure as Mexico City's mayor, aiming to follow President Lopez Obrador, and praised Mexico's economic growth, advocating for state-run economics due to corruption in the private sector. Conversely, Galvez proposed modern solutions such as blockchain for healthcare subsidies and emphasized robotics, AI and English education. The debate saw Galvez confronting Sheinbaum about alleged corruption involving the president's sons, which Sheinbaum sidestepped by labeling Galvez as a liar.

Aside from this, Mexico’s economic docket will feature the release of inflation figures, industrial production and retail sales. In the US, the calendar will feature Fed speakers, inflation data on the consumer and producer side, the release of the Federal Reserve’s last meeting minutes, and jobs data.