The Mexican Peso begins the week on the back foot, yet it remains near the 50-day Simple Moving Average (SMA) at 20.11 as US business activity expanded in the services sector while manufacturing remains depressed.
Mexican Peso hovers near the 50-day SMA at 20.11, with the USD/MXN showing minimal movement after US PMIs data. Banxico is widely anticipated to cut rates following encouraging November inflation figures, with most economists predicting a 25 bps reduction. Anticipation builds around upcoming rate decisions from the Fed and Banxico . The Mexican Peso begins the week on the back foot, yet it remains near the 50-day Simple Moving Average at 20.
10 The USD/MXN remains upwardly biased, though it seems likely to edge lower in the near term. Momentum shifted bearishly with the Relative Strength Index falling below its neutral level. If sellers can hurdle some support levels, the exotic pair will see further downside. The 50-day Simple Moving Average at 20.08 continued to cap the USD/MXN fall. If surpassed, the next stop would be the 20.00 figure, with further drops seen to the 100-day SMA at 19.71. A breach of the latter will expose 19.50.
Banxico Fundamental Analysis Technical Analysis SEO
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mexican Peso recovers to seven-day high despite Banxico’s dovish stanceThe Mexican Peso advanced against the US Dollar during the North American session on Tuesday, yet it recovered some ground after the USD/MXN hit a daily high of 20.34 due to risk aversion.
Read more »
Mexican Peso weakens amid geopolitical tensions, dovish Banxico commentsThe Mexican Peso erased some of Tuesday's gains versus the Greenback as geopolitical risks continued to drive the financial markets amid a possible escalation of the Russia-Ukraine conflict.
Read more »
Mexican Peso extends rally as inflation cools, hinting at Banxico easingThe Mexican Peso extended its rally for the fifth consecutive day as inflation in Mexico dipped to its lowest level since April 2024.
Read more »
Mexican Peso strengthens as US CPI supports Fed rate cut speculationThe Mexican Peso extended its gains on Wednesday after US economic data showed that November inflation was aligned with estimates, cementing the case for an interest rate cut by the Federal Reserve (Fed).
Read more »
Mexican Peso rebounds amid prospects of Fed rate cutThe Mexican Peso recovered after registering losses on Thursday and appreciated some 0.50% against the Greenback during the North American session.
Read more »
Mexican Peso stabilizes after rallying on easing trade-war fearsThe Mexican Peso (MXN) seesaws between tepid gains and losses in its most-traded pairs on Friday as it stabilizes after the previous day’s rally.
Read more »