- The dollar falls on all fronts at the start of the American session.
- Mexican pesos continue to recover against the dollar, affirming below 20.30.
The The Mexican peso does not escape the context of rising emerging market currencies against the dollar. USD / MXN has just hit lows since late September at 20.16 and remains close to recent lows.
The USD / MXN decline continues to be favored by the good tone in the equity markets. A general weakness of the dollar has just been added and especially against the riskier currencies.
The break at 20.30 enabled a bearish extension in USD / MXN, which is now very close to the 200-day moving average, which is at 20.15. This level protects the 20.00 area, where the next support is. To the upside, now 20.30 is the first resistance. A return above this level should ease the downward pressure from the cross. The next resistance is at 20.45.
The economic calendar shows as relevant data from the US on Wednesday the publication of the Beige Book of the Federal Reserve.
On Mexico August retail sales figures will be released on Thursday and key data for the week with the mid-October consumer price index on Friday.
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
