Free Trial

USD/MXN Eyes 19.84 As Cetes Auctions Come into Focus

MEXICO
  • USD/MXN continues to trade in a broad range around the 20 handle, tracking BRL higher yesterday afternoon to an intra-day peak at 20.10, before paring most of the move on broad USD weakness.
  • 19.85 remains sticky for now amid thin markets, with downside support at 19.7402 keeping the cross trading sideways until new catalysts enter the market.
  • Focus today on weekly reserve figures (1500 GMT) and auction results, which may see a drop-off in demand in line with seasonality.
  • Slightly firmer oil prices, should keep the pair biased lower for today, supported by USD weakness.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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.