- Mexican peso accelerates the rate of appreciation against the dollar.
- USD / MXN weakened by the fall of the dollar and technical factors.
USD / MXN is trading at 19.86, the lowest level since mid-March. The price accelerated the fall in the last hour, in a context of generalized fall of the dollar in the market. In turn, the sustainability of the bags, supported by optimism about the coronavirus vaccine.
The US dollar index (DXY) is below 91.00 at its lowest since April 2018. The drop is on all fronts, including against the yen on Thursday. In minutes the weekly report of requests for unemployment benefits will be published and later data from the service sector.
Another focus of attention in the US is on the negotiations for new fiscal stimuli. The electoral result removed the possibility of it happening soon and it seems difficult. Lawmakers are analyzing different possibilities, but even so, it is estimated that President Trump could veto the measures.
The main Wall Street indices operate mixed in the futures market, but it remains close to the all-time highs reflecting some optimism, that the coronavirus vaccination will begin soon.
The downtrend reaffirms
From a technical point of view, a consolidation well below 20.00 would enable further declines. Supports are seen at 19.80 and then 19.55. A bounce that brings the price back above 20.00 would ease the downward pressure. The positive outlook for the Mexican peso is expected to remain intact while below 21.25 / 40.
Technical levels
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