- The US dollar rally continues on Friday, DXY breaks above 92.00.
- USD / MXN tops the highest weekly close since February.
The Mexican peso remains under pressure against the US dollar. USD / MXN rose to 20.75, reaching the highest level since the end of March. The pair hovers around 20.65, clinging to gains.
The dollar rose for the sixth day in a row against the Mexican peso amid a deterioration in market sentiment after the FOMC meeting. The peso is one of the worst performers of the week today, along with the South African rand and the Turkish lira. USD / MXN is up more than 4% in the biggest weekly gain since September last year.
Banxico next week, but …
Next Thursday, the Bank of Mexico will announce its decision on monetary policy. No change in the key rate is expected (4%) but the usual hawk bias will likely strengthen after the recent spike in volatility across the financial market, the depreciation of the Mexican peso and the rise in global yields, in the context higher inflation in Mexico.
Despite the meeting, the price action of emerging market currencies will likely be decided by the US dollar and the risk tone. The market has clearly made a turn in favor of a broad greenback strength.
Technical levels
USD/MXN
Overview | |
---|---|
Today last price | 20.7461 |
Today’s Daily Change | 0.3146 |
Today daily change% | 1.54 |
Today they open every day | 20.4315 |
Trends | |
---|---|
Daily SMA20 | 19.9542 |
SMA50 daily | 19.9787 |
SMA100 daily | 20.244 |
SMA200 daily | 20.4054 |
Levels | |
---|---|
Previous Daily High | 20.6232 |
Previous Daily Low | 20.3269 |
Previous weekly high | 20.0023 |
Previous Weekly Low | 19.5983 |
Previous monthly maximum | 20.3286 |
Previous Monthly Low | 19.7191 |
Daily Fibonacci 38.2% | 20.51 |
Daily Fibonacci 61.8% | 20.4401 |
Daily Pivot Point S1 | 20.2979 |
S2 daily pivot point | 20.1643 |
S3 Daily Pivot Point | 20.0016 |
R1 daily pivot point | 20.5941 |
Daily pivot point R2 | 20.7568 |
R3 daily pivot point | 20.8904 |
.
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.