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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
- Despite the initial spike in the greenback, markets were quick to reverse the initial sentiment following the US inflation data.
- USDMXN is trading close to unchanged on the day, however, the pair has briefly traded below 18.5080, the Feb 2 low. The psychological 18.50 level has held for now.
- The overall trend outlook remains bearish, and a key short-term resistance has been defined at 19.2906, the Feb 6 high where a break is required to threaten the downtrend and highlight a reversal.
- On the downside, key support and the bear trigger is at 18.50, a break of which resumes the technical downtrend. Below here we have, 18.4050 as initial support, however, more significant support is further out at 17.9401, the 2018 lows.
- As noted, there are no major economic data releases in Mexico this week and therefore the primary driver will be overall greenback/EMFX sentiment.
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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