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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
- USDMXN continues to trend lower in today’s trading session, gradually approaching its 20.1640 support level, which corresponds to the 76.4% Fibo retracement of the 19.55 – 22.15 range (2021/2022 low high).
- The ‘EM carry’ pair has responding positively to the ‘slight improvements’ in the Russia/Ukraine conflict and the MXN is up over 6% from its low reached on March 8.
- Banxico is expected to continue its tightening cycle and raised its policy rate by another 50bps to 6.5% on March 24.
- A gradual increase in market optimism should continue to support MXN in the short term.
- Next support to watch on USDMXN stands at 20, followed by 19.8510 (Sep 2021 levels).
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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