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MEXICO: USDMXN Extends Losses Following Robust Investment Data

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • USDMXN has now fallen by 0.9% today to 19.44, amid an extension of yen weakness after the ADP beat and following better-than-expected Mexico gross fixed investment data for July. The move extends the reaction to President Sheinbaum’s first remarks after her inauguration yesterday, when she said that foreign investments in Mexico will be safe. As a reminder, her first daily press conference is due to begin shortly (1400BST).
    • USDMXN has continued to trade below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2250, the 50-day EMA.
    • A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low.
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  • USDMXN has now fallen by 0.9% today to 19.44, amid an extension of yen weakness after the ADP beat and following better-than-expected Mexico gross fixed investment data for July. The move extends the reaction to President Sheinbaum’s first remarks after her inauguration yesterday, when she said that foreign investments in Mexico will be safe. As a reminder, her first daily press conference is due to begin shortly (1400BST).
    • USDMXN has continued to trade below the August and September highs. The Sep 11 - 18 bear leg is considered corrective and the next key support to watch lies at 19.2250, the 50-day EMA.
    • A clear break of this average would undermine a bullish theme and expose 18.5999, the Aug 16 low.