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MEXICO: Two-Way Swings for Peso, USDMXN Range Relatively Contained

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Some intra-day volatility noted for the Mexican peso, briefly printing a session high as Trump says “inflation is continuing to rage, and interest rates are far too high" before quickly taking a knock on the latest tariff/migration rhetoric against Mexico.
  • Overall, the USDMXN price action has been relatively contained on Tuesday, holding a tight 0.65% range at typing. Short term technical parameters appear well defined with key short-term support to monitor at 20.0219, the Dec 20 low, and the bull trigger residing at 20.9072, the Dec 31 high. A break of it would resume the uptrend.
  • As a reminder we have both December CPI data and Banxico minutes on Thursday.
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  • Some intra-day volatility noted for the Mexican peso, briefly printing a session high as Trump says “inflation is continuing to rage, and interest rates are far too high" before quickly taking a knock on the latest tariff/migration rhetoric against Mexico.
  • Overall, the USDMXN price action has been relatively contained on Tuesday, holding a tight 0.65% range at typing. Short term technical parameters appear well defined with key short-term support to monitor at 20.0219, the Dec 20 low, and the bull trigger residing at 20.9072, the Dec 31 high. A break of it would resume the uptrend.
  • As a reminder we have both December CPI data and Banxico minutes on Thursday.