Most Read: Gold, Silver Price Forecast – XAU/USD & XAG/USD May Get Boost from Macro Trends The U.S. dollar, as measured by the DXY index, was a tad firmer on Wednesday, extending its rebound for the third day in a row after last week’s overextended selloff in the wake of the FOMC decision and softer-than-
Share: USD/MXN consolidates in a tight range of 17.4000 – 17.5900 since Monday. Banxico is expected to keep interest rates unchanged at 11.25%, Investors await Fed Chair Jerome Powell’s conference to gain additional insights into the interest rate trajectory. USD/MXN treads water near 17.5000 during the European session on Wednesday. The pair has
USDMXN daily MUFG Research added 2 new trades to its TOTW portfolio. Short USD/MXN – (spot ref @ 17.400), Target @ 16.900 & Stop @ 17.800 and Short USD/SEK – (spot ref @ 10.980,) Target @ 10.650 & Stop @ 11.200. “We are recommending a new short USD/MXN trade idea. While the pair has already
Share: Mexican Peso gains as US Nonfarm Payrolls expand by only 150K, missing the 180K forecast. Weak US jobs report fuels speculation of multiple Fed rate cuts in 2024, as futures markets indicate. USD/MXN reacts to US labor market cooling, with the Peso hitting a two-month high and US Dollar Index falling. Mexican
Share: Mexican Peso extends its gains and is set to finish below the 18.12 mark. Mexico’s trade deficit widens, but Peso holds gains amidst flight to safety in markets. US inflation data justifies higher interest rates, but the market is skeptical of the Fed raising rates past the current range. Mexican Peso (MXN)
Share: USD/MXN faced a challenge due to risk-off sentiment. Israel-Hamas war could weigh on the Mexican Peso. Mexico’s Retail Sales declined to 0.4% (MoM) in August, while the annual data grew at 3.2%. Greenback receives upward support on improved US Treasury yields. USD/MXN aims to recover recent losses, trading around 18.2500 during the Asian
Share: Mexican Peso stays defensive, posting over 1% weekly loss vs. the US Dollar. August Retail Sales in Mexico show a mixed picture, with gains over the year but a monthly plunge and signs of deceleration. Geopolitical risks cap Peso’s gains, including tensions in the Middle East and US military base attacks. Mexican
The U.S. dollar traded higher against most peers on Wednesday amid risk-off sentiment. Compared to the Japanese yen, however, the greenback was largely flat, with USD/JPY fluctuating around the 149.75 level at the time of writing. The ongoing geopolitical conflict in the Middle East, stemming from Hamas attacks in Israel, continued to shape market dynamics,
Share: USD/MXN retreats from a two-day winning streak ahead of US economic figures. US Dollar faces a challenge after the weaker preliminary US Michigan Consumer Sentiment Index. Banxico is expected to keep interest rates higher; contributing support for the Mexican Peso. USD/MXN pulls back from the recent gains, trading lower around 18.0160 during the Asian
Share: Mexican Peso stalls the USD/MXN rally towards 18.00, as the pair clings to losses of 0.02%. The University of Michigan consumer sentiment indicates growing pessimism amongst Americans as inflation expectations rise. Dovish comments from Fed officials, including Philadelphia Fed President Patrick Harker, suggest a rate hike pause. Mexican Peso (MXN) calmly stands off
