US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDMXN Extends Intra-Day Advance as US Yields Shift Higher

MEXICO
  • The Mexican peso is the notable underperformer in Latam today, as upward pressure on US yields continues to weigh on the EM currency basket (5-year yields have reached fresh year-to-date highs in recent trade). Additionally, the holiday in Mexico could be impacting liquidity and potentially exacerbating the moves somewhat.
  • USDMXN (+0.76%) should remain in focus as we approach interest rate decisions in the US and Mexico this week. Following Wednesday’s Fed meeting, Banxico is due to hold a key monetary policy meeting on Thursday, when it is broadly expected to start its easing cycle with a 25bp cut to 11%. As noted earlier, support for USDMXN at 16.6262 has held well and remains the key short-term technical level.
  • Overall, the USDMXN trend condition remains bearish following its recent sell-off and a break of that 16.6262 support would open 16.4218, the 1.236 projection of the Dec 5 - Jan 8 - Jan 17 price swing. On the upside, initial resistance is at 16.8969, the 20-day EMA.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.