USD/MXN is falling on Friday, on a weakening dollar after US economic data. The pair trades below 19.90, validating weekly losses.
In the US, it was known that both personal income and personal spending rose in July less than expected. The personal consumption expenditure price index recorded an unexpected decline in July. The figures sent the dollar down across the market and Treasury yields lower.
In any case, the focus is on the speech that Jerome Powell will give and on the statements that are being made known by several Fed officials from Jackson Hole, where the annual symposium is taking place.
Markets are mostly bullish, giving support to emerging market currencies, including the Mexican peso. High volatility is expected for the next few hours.
USD/MXN maintains a bearish bias. Next support looms at 19.75, followed by 19.45. The upside, 20.00 is the first resistance followed by 20.17. Should it break above 20.25, strength ahead for the dollar would be expected.
Technical levels
Source: Fx Street
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