Free Trial

USDMXN Extends Below 17.00 On Soft Unrounded Core CPI

MEXICO
  • Broad greenback weakness following the softer-than-expected 0.158% monthly reading weighs on USDMXN which now trades at fresh trend lows below 16.98, breaching initial support in the process. Supportive price action for major equity benchmarks providing an additional tailwind for the Peso, which sees USDMXN print as low as 16.8841 as of writing.
  • The downtrend remains firmly intact with price action marking an extension of the bearish price sequence of lower lows and lower highs. Scope is now seen for a move towards 16.7758, the 1.764 projection of the Jun 2 - Mar 9 - Mar 20 price swing.

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.