- The USD/MXN falls 0.51% on the last day of the week, reaching minimums not seen since October 15, 2024 in 19,4364.
- The dollar index (DXY) goes back 0.22%, oscillating within the range of May 8 in 100.40.
- The confidence of the consumer of Mexico is located at 45.3 points in April, reaching its lowest level since June 2023.
The USD/MXN established a maximum of the day in 19,5477, attracting aggressive vendors that led to minimums not seen since October 15, 2024 in 19,4364. Currently, the USD/MXN is traded at 19,4382, losing 0.51% today.
The Mexican weight can be seen for the fourth consecutive day and reaches maximum seven months
The dollar index (DXY) reacted down from April 11 in 100.86, reaching a minimum of the day at 100.09.
The Mexican weight extends its profits and records its fourth consecutive day upwards, while the USD/MXN loses 0.51% daily, reaching minimums not seen since October 15, 2024 in 19,4364.
Investors will be attentive to the update of commercial negotiations between the United States and China, to be held during the weekend. A commercial agreement could relax tariff tensions and boost financial markets.
The confidence of the consumer of Mexico records its lowest level in almost two years
According to information published by the National Institute of Geography and Statistics (INEGI), the confidence of the consumer of Mexico stood at 45.3 points in April, below the 46 observed in March, reaching its lowest level since June 2023.
The economic agenda of Mexico next week contemplates industrial production and the decision of interest rates by Banxico, on May 12 and 15, respectively.
USD/MXN Price levels
The USD/MXN reacted down from a short -term resistance given by the maximum of May 6 in 19.78. To the south, the key support is located on 19.02 minimum of August 23, 2024. The next important support level is observed in 18.59, pivot point of August 16, 2024.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
