Free Trial

USDMXN (-0.68%) Declines Below 18.40, Near Five-Year Low

  • USDMXN continues to trade with a downward bias and has extended declines below the significant 18.50 support level.
  • The pair has extended below 18.40 in recent trade which marks the lowest level since April 2018.
  • Price action across Latin American currencies has been very supportive amid the USD index giving up the majority of its overnight advance.
  • Domestic headlines may be acting as an additional Peso tailwind as we approach the weekend close:
  • Tesla has chosen Mexico to expand its operations, and Elon Musk will speak with Mexican President AMLO, Mexico's Foreign Minister Marcelo Ebrard said Friday.
    • Ebrard said the date of the call between Musk and Lopez Obrador would be given later Friday afternoon. He declined to name the specific location for Tesla's Mexico expansion. (Reuters)

To read the full story



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.