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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
- MXNJPY, which is also considered as the EM carry trade currency (vs. AUD or GBP for DM), has been trending higher in the past year amid global risk on environment but is still standing 9% below its peak reached in Feb 2020.
- Risk on environment could persist in the coming months as most of the developed economies prepare for the global reopening and the vaccination campaign accelerates in the EM market.
- Next resistance on the topside stands at 5.59, which represents the 76.4% Fibo retracement of the 4.23-6.01 range, followed by 6.01 (Feb 2020 high).
- On the downside, first support stands at 5.42 (50D SMA), followed by 5.33 (61.8% Fibo).
Source: Bloomberg/MNI
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.
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