The USD/MXN has been able to sustain lower momentum as financial institutions seem to be adjusting to political realities which will affect economic policies and the currency pair.
Technical Analysis
USD/MXN refers to the US Dollar/ Mexican Peso currency pair. USD/MXN is an exotic pair, as Mexico is considered a developing economy, and it is being traded against a major currency....
The USD/MXN pair can be traded in the US from Sunday evening until Friday afternoon though trading volume and levels of volatility vary greatly. In general, morning hours present the best time to trade the Mexican Peso as this period includes the release of US economic data (8.30-10 am ET) and it is the window of greatest activity. Mexican peso trading hours also follow US equity and futures exchange hours. Mexico’s natural resources make it a commodity-based currency. It is a top-15 producer of oil, and the value of the MXN is strongly influenced by oil and gas price fluctuations and any other economic indicators impacting energy futures markets, such as the US Oil Inventory report. Moreover, the Mexican peso is interdependent with the Colombian peso (COP) and the Brazilian real (BRL), both of which are heavily reliant on petroleum exports. The USD/MXN currency pair is impacted by events occurring both in Mexico and the US. The two countries’ economic policies are correlated, with Banco de México frequently announcing decisions close on the heels of US Federal Reserve announcements.
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After trading around the 20.73000 level into Wednesday of last week, the USD/MXN has begun to exhibit calmer trading sentiment among financial institutions, but the currency pair remains within higher elements still even as it trades lower.
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The USD/MXN was hit by an early surge higher this morning when news circulated that President-elect Trump will start his tariff negotiation with Mexico with a threatened 25% price tag.
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The US dollar's rise against the Mexican peso signals economic trends, migration dynamics, and potential policy shifts, with a key focus on the 21 MXN level.
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The US Dollar gapped lower against the Mexican peso during the trading session on Monday, but then turned around to show signs of life.
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The USD/MXN is within the lower elements of its one week trend, but remains within the higher part of one month technical consideration, opening the door for a variety of speculative perspectives.
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The past week of trading in the USD/MXN was violent and a high of nearly 20.80400 was traversed, and then the currency pair reverse lower, but buying the past day and a half shows cautious attitudes.
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During my daily analysis of exotic currency pairs, the USD/MXN pair has caught my attention, as we pierced the 20.50 MXN level at one point during the session.
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The USD/MXN sold off this morning as trading began, but the currency pair remains rather comfortably above the 20.00000, this as a sea of volatility gets ready to unleash.
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In my daily analysis of exotic currency pairs, the first thing that has captured my attention is that the US dollar continues to strengthen.
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The US dollar has tested the 20 Mexican peso level multiple times and at this point in time, it looks like we are doing everything we can to break above it.
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Upon opening today the USD/MXN is trading above the 20.00000 level and is within sight of highs touched in the middle of last week.
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The US dollar continues to threaten the 20 Mexican peso level as we continue to see interest rates in America rise.
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The USD/MXN has returned to its higher price range and the 20.00000 price is now within sight for financial institutions and day traders as nervous conditions shadow the currency pair.
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The USD/MXN has been within a noted bullish stance the past handful of months as financial institutions showed concerned regarding the stronger than before Morena political party.
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