The dollar continues to rise against emerging market currencies. Stock markets continue to decline. USD/MXN continues to climb, at highs since mid-March. USD/MXN reached as high as 20.92 on Tuesday, the highest level since March 15. It then experienced a pullback towards 20.80. The dollar remains firm supported by fundamentals and also technical factors. On […]
Tag: Emerging markets
USD/MXN falls for the first time in five days on a rebound in markets
Rise in the stock markets takes pressure off emerging currencies. USD/MXN falls from maximum in four months. Inflation in Mexico at 7.99%, a level not seen since January 2001. USD/MXN is pulling back on Thursday, making a downward correction after rising to 20.78 on Wednesday, the highest level since mid-March. It trades around 20.60, having […]
USD/MXN continues to advance and tests monthly highs at 20.70
Emerging market currencies under pressure from falling commodity and equity prices. Mexican peso far from the worst, but almost at a four-month low against the dollar. USD/MXN with sights on 20.70. USD/MXN is rising for the fourth day in a row and hit as high as 20.70, matching the June high. If it exceeds this […]
USD/MXN stable in the 20.30 area, with an upward bias
Emerging market currencies continue to have a difficult outlook due to general caution. Fears about a global recession and interest rate hikes continue to leave the outlook cloudy. USD/MXN remains above 20.25, with resistance at 20.45. USD/MXN is trading flat on Monday around 20.25/30, maintaining a short-term bullish bias, after last week’s strong rally. The […]
USD/MXN rises for the second day and reaches 20.00
The Mexican peso continues to retreat from two-week highs. Rise in Treasury bond yields put pressure on emerging markets. USD/MXN bounces from 19.80, finds resistance at 20.00 area. USD/MXN is rising for the second day in a row, extending the rebound from the 19.80 area, the lowest level in two and a half weeks. The […]
USD/MXN rises for the first time in six days, still below 20.00
The Mexican peso remains among the best performers in the last seven days. USD/MXN corrects higher from two-week lows. Wall Street is trading negative after a sharp rise last week. USD/MXN is rising on Monday, correcting higher after several days of declines. In turn, optimism on Wall Street is once again giving way to caution, […]
USD/MXN rises modestly ahead of Banxico, remains above 20.00
USD/MXN maintains a short-term bearish bias. Bank of Mexico would raise the rate by 75 basis points. Climate of caution prevails in the financial markets. USD/MXN is marginally higher on Thursday, after giving back much of the gains. The pair is trading around 20.05, after rising as high as 20.13. Mexican peso remains firm and […]
USD/MXN continues to retreat and falls to one-week lows below 20.20
Markets rise throughout the world helping emerging currencies. Mexican peso remains among the best performers. USD/MXN returns below the 200-day moving average. The USD/MXN is falling for the third day in a row and continues to pull back after hitting three-month highs last week. The pair is trading below 20.20, at a one-week low. Last […]
USD/MXN in the zone of maximums in three months, near 20.70
Dollar with mixed results prior to the Fed’s decision. US central bank could raise rate by 75 basis points. USD/MXN reaches the 20.70 zone. USD/MXN is rising again on Wednesday, albeit not making new intraday highs in weeks. The cross reached as high as 20.69, the highest level since mid-March. Volatility is expected to continue. […]
USD/MXN continues to rise and hits six-week highs above 20.60
The Mexican peso and emerging market currencies remain under pressure. Tuesday shows some stability on Wall Street, but it doesn’t look stable. The Fed begins the two-day meeting. USD/MXN rises again on Tuesday and climbed to 20.62, the highest level since late April. The cross continues to be underpinned by the bad climate in the […]