- Risk aversion affects the positive trend of the Mexican peso.
- The dollar gains momentum against emerging markets, futures on Wall Street fall sharply.
The USD / MXN changed the intraday trend and erased the gains of the day, before an acceleration in the fall in the stock markets throughout the world. The price had fallen to 19.82, the lowest level in two weeks and is trading back in the 19.90 area.
The rebound was accompanied by a higher demand for the dollar due to an acceleration in the decline in the equity markets. Futures point to a negative opening of the Dow Jones around 0.90% and the Nasdaq above 2%. In Europe, the main squares fall on average 2.50%.
The negative tone affected emerging currencies. Although the Mexican peso was no exception, it is one of those that fell the least in the last hour. In fact, on the day it is still one of the few in neutral ground against the dollar.
In case of prolonged deterioration in the market, the USD / MXN could accelerate the rise, especially to settle on 19.93 and could get to test 20.00. A confirmation on 20.05 would put the very short-term scenario in favor of the dollar.
Technical levels
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