Free Trial

Light Week For Domestic Data, USDMXN Bounces Ahead of 2021 Lows

MEXICO
  • An extremely light week of domestic data leaves the Fed decision as the key focus for Mexican assets this week. USDMXN was unable to breach the January lows and had a firm squeeze up to 20.00 amid the firm bid in the greenback on Friday. Fairly narrow ranges to begin the week with a low probability of any impactful catalysts before the FOMC decision on Wednesday.
  • The latest CFTC report released on Friday indicates investors added to their short MXN positions after two weeks of reducing them:
    • Investors were short MXN to the tune of 6,490 contracts in the week ending June 8 vs 3,643 contracts on June 1.
    • Leveraged funds cut their bullish peso positions while institutional investors increased them.

To read the full story

Close

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.