- The USD/MXN has reacted lower, reaching eleven-day lows.
- Mexico’s Consumer Price Index (CPI) rose 0.21% monthly in the first half of June.
- Core inflation increased 0.17%, slightly lower than the market consensus.
USD/MXN posted a daily high of 18.14 during the European session. However, it found sellers who took the pair to a daily low of 18.00 during the American session. Currently, the price of the US Dollar against the Mexican Peso is trading at 18.03, losing 0.41% on the day.
Inflation rises 0.21% monthly in June compared to the expected 0.13%
Based on information from the National Institute of Geography and Statistics (INEGI), inflation rose 0.21% monthly in the first half of June, after decreasing 0.21% in the previous period. This data is above the 0.13% expected by the market.
Core inflation increased 0.17% at a biweekly rate, slightly lower than the 0.18% expected by the market.
Mexican peso reaction
Participants were especially active and have driven USD/MXN to levels not seen since June 7, reaching the psychological level of 18.00.
Technical levels in the USD/MXN
The USD/MXN has reacted lower and is getting ready to reach the support of 17.50, the low of June 6. We find the closest resistance at 19.00, a closed number and maximum reached on June 12.
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.
