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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.
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Free AccessMNI China Daily Summary: Friday, December 13
MNI US OPEN - UK Economy Contracts for Second Straight Month
Liquidity, Technical Outlook
Trading desks have noted that USDMXN liquidity density was one of the worst impacted by the holidays, in some cases 50% below the 30day average. This may have impacted the volatility seen this morning and helps explain the sharp reversal combined with the renewed USD selling.
With USDMXN giving back most of its gains, our technical analyst looks at the longer-term chart:
Tech Focus: USDMXN has traded in a volatile manner today.
- The pair rallied to a high print of 20.6641 earlier before finding resistance.
- A key support has been defined at 19.7006, 8 Dec low where break would confirm a resumption of the underlying downtrend.
- On the upside, clearance of 20.6641 would instead highlight a more convincing base and a potential reversal.
- Until then, the trend remains bearish.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.