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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
- USDMXN has extended its decline in recent sessions. After breaking Fibonacci support at 20.7009, the pair has been grinding lower and following a breach of 20.50, the November lows are now the next focus point.
- This level comes in at 20.2517 which matches closely with the 200-day moving average. Below here 20.1196 comes into play, the October lows.
- Additionally, as noted yesterday, MXNJPY has been firmly trending higher and has had eight consecutive up days, resulting in a break above the November highs around 5.5856. The pair is currently testing significant downtrend resistance (drawn from the 2020 high) around 5.63.
- At 1500GMT/1000ET, Mexico will publish net outstanding loan figures for last month after loans fell in October.
- The central bank minutes are due on January 6, which may shed light on upcoming decisions in 2022, especially following President AMLO expressing his wish that the central bank help boost growth yesterday.
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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