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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.
MXN
- USDMXN (+2.20%) is trading sharply higher again today, as the pair extends the post-election surge, picking up momentum through the 18.00 handle to print as high as 18.1936.
- The strong rally cancels a recent bearish theme and has resulted in price trading through 17.8159, the 76.4% of the Apr 19 - May 21 downleg. This break reinforces bullish conditions and has seen spot significantly narrow the gap to 18.2137, the Apr 19 high.
- Further strength would immediately bring the October 2023 highs into focus at 18.4863.
- As previously noted, market anxieties concerning the Morena supermajorities remain front and centre, and positioning dynamics are emphasising how the short-term path of least resistance remains higher for USDMXN.
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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