Free Trial

MEXICO: USDMXN Remains Firmer on Session, CPI Data & Banxico Minutes Thursday

MEXICO
  • Another solid 1.16% range for USDMXN today with the pair currently holding onto 0.70% gains on the session. A bullish theme in USDMXN remains intact following the rally between Jul 12 and Aug 5 with the latest pullback appearing to still be a correction. Support to watch lies at the 50-day EMA, at 18.3570, of which a clear break would undermine the bullish theme. On the topside, 19.1038 is a level to watch, the Aug 12 high. Further out, 19.6105, the Aug 6 high would come into focus. 
  • Regarding domestic data this week, bi-weekly inflation data will be released on Thursday alongside the final reading of Q2 GDP and June economic activity figures. Banxico minutes will also be published Thursday.

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.