Free Trial

USDMXN Maintains Bullish Tech Outlook Ahead Of CPI/Banxico

MEXICO

USDMXN was unable to close the TRY induced opening gap to Friday's close at 20.50 yesterday. Renewed US dollar strength and EMFX weakness has prompted USDMXN to shift higher to 20.70/75. Our technical analyst notes that key short-term trendline support drawn off the Jan 21 low has remained intact. Resistance has been defined at 20.9322, Mar 12 high.

  • Focus is on the mid-month CPI release on Wednesday before Banxico decision on Thursday.
  • Currently, 12/22 analysts are calling for an unchanged decision with the remaining 10 calling for another 25-bps cut to 3.75%. Our full preview and analyst views will be published tomorrow.

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.