Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MEXICO
- Risk off sentiment continues to drive preference for the US Dollar broadly, with the DXY breaking above the 106 level and currently trading at its highest level since December 2002.
- Momentum on USDMXN has remained strong this week, with the pair breaking above its 200DMA and 38.2% Fibo resistance lines yesterday and gradually approaching its next resistance at 20.7010.
- A break above that level would open the door for a move up to 20.7840, which corresponds to the 50% retracement of the 19.4140 – 22.1560 range.
- EM currencies have remained under pressure in the past month despite central banks continuing to tighten their policy as inflation continues to surprise positively in many countries.
- Last month, we saw that Banxico accelerated the pace of its tightening cycle by hiking its policy rate by 75bps to 7.75%, its highest level since October 2019 (unanimous and largely expected with CPI inflation currently at 7.65%).
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok