- The dollar gets a respite in the market and favors a rebound in the USD / MXN.
- The crossing could consolidate between 20.15 and 20.40.
- Mixed data from the US and positive in Mexico.
USD / MXN is rising on Thursday although it moved away from the highs. The price climbed to 20.31 and then quickly retreated back to the 20.25 area, where it is trading. On Wednesday it had fallen to 8.15pm, the lowest since Sept. 28.
US economic data released Thursday was mixed. Unemployment benefit claims fell to new lows since March 2020, while the Philly Fed fell more than expected. These did not have a great impact on the market. They helped stocks to bounce higher.
In Mexico, it was known that August retail sales remained unchanged compared to the previous month, which was better than expected, which was due to a slight setback. The annual rate went from 9.9% to 7.2%. The October mid-month inflation report will be published on Friday.
Technical overview
The USD / MXN retracement finally found support at 20.15, from where it is bouncing. This area is key and a close below would enable more lows. In any case, in the short term a consolidation between 20.15 and 20.30 or 20.40 would be expected, before a new movement. In case of rising above 20.45, in a firm way, the dollar could regain the initiative. If it loses, 20.15, the Mexican peso could point to 20.00.
Technical levels
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