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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.
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Free AccessKey Inter-Meeting Fed Speak – Dec 2024
US TREASURY AUCTION CALENDAR: Avg 3Y Sale
USDMXN Through Recent Highs Following US Trade Complaint Report
- USDMXN has broken through recent highs around the 17.1880 region and is now at its highest level since last Tuesday.
- The pullback in the peso may come as part of a delayed reaction to the earlier news that crossed in early European hours; that the US is preparing to accelerate its complaint that Mexico’s ban on genetically modified corn violates the nations’ free-trade deal, heightening tensions between the neighbours. The recent uptick in the greenback through the European open is likely providing an additional tailwind to the pair.
- USDMXN currently sits above the 50-day EMA, which intersects today at 17.1337, though a more sustained move higher toward 17.3959, the Jul 7 high, is needed to signal a stronger recovery.
To read the full story
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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.