The Mexican Peso (MXN) fluctuates between tepid gains and losses in its major pairs on Tuesday, ahead of key inflation data later in the day, followed by the Bank of Mexico (Banxico) September policy meeting on Thursday – both factors that could influence the Mexican currency.
The Mexican Peso trades steadily ahead of key inflation data. Banxico will hold its meeting on Thursday; a 25 bps rate cut is expected. USD/MXN claws higher from the base of a rising channel, supported by firm momentum. The Mexican Peso fluctuates between tepid gains and losses in its major pairs on Tuesday, ahead of key inflation data later in the day, followed by the Bank of Mexico September policy meeting on Thursday – both factors that could influence the Mexican currency.
The swaps market is pricing in 175 bp of easing over the next 12 months.” Technical Analysis: USD/MXN edges higher, backed by bullish momentum USD/MXN continues edging higher after bouncing off technical support at the base of a long-term rising channel. The 50-day Simple Moving Average also bolstered support at the base of the channel. USD/MXN 4-hour Chart There is a possibility USD/MXN has begun a short-term uptrend within the channel.
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