- The Mexican peso remains unchanged against the dollar.
- USD/MXN limited below 19.90, with support around 19.70.
The USD/MXN is trading at 19.73, with no relevant changes for the day and looking towards the 19.70 area, which if it yields could strengthen the Mexican peso. The pair continues to move sideways, accompanying a rise in the stock markets and in raw materials.
Raises are still limited by 19.90. If there is a consolidation above, the dollar would be positioned for a return above 20.00. The next strong resistance is at 20.15/20.
downwards, USD/MXN immediate support is 19.70, which contained the dips. It traded below momentarily on Tuesday, but quickly came back above. If this level is lost, the next support is seen at 19.50.
Emerging market currencies move on Wednesday in no clear direction. They are being supported by the rise in the equity markets and raw materials. Also contributing is the pullback in sovereign bond yields after Tuesday’s jump following the Bank of Japan’s announcement.
In Mexico an increase of 0.7% in retail sales was known on Tuesday in October, while a drop of 0.2% was expected; the rise compared to last year was 3.8%. On Thursday, the inflation data for the middle of the month of December will be published.
technical levels
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.
