- Firm Mexican peso, without great variations against the dollar.
- USD / MXN heading for a new weekly close near 19.90.
- Mexico: New authorities take over in the Economy.
The USD / MXN is falling modestly on Friday and is trading around 19.90, within the range of the last sessions, without registering significant variations. The markets remain relatively calm on Friday favoring the continuity of the lateral and limited movements of the cross.
The mixed US data, with a higher than expected rise in retail sales and consumer confidence numbers lower than the market consensus, did not generate changes in the market trend. The dollar presents mixed results.
On Mexico, Today is the first day of the new Secretary of Finance and Public Credit, Rogelio Ramírez de la O, who takes office after the resignation of Arturo Herrera, who yesterday left office. Herrera was nominated by President Andrés Manuel López Obrador to be head of the central bank to replace Alejandro Díaz, whose term ends on December 31, 2021.
The next week a key data will be known in Mexico: the inflation of the middle of the month. The rise in prices led the Bank of Mexico to raise interest rates again after years. What marks the needle of the IPC will be a key element at the time of decision of the members of the Governing Board.
Technical overview
The USD / MXN remains below the 20-day average, which is turning bearish, but is no longer indicative of the moment as a result of the lateral movements that have persisted for several days. A close above 20.05 would point to more rises for the dollar, while if it falls below 19.80, the Mexican peso could be favored.
At the moment, the current balance with a bearish bias does not seem to be threatened, with some break. Technical indicators, affected by recent runs, do not give clear signals. The USD / MXN is on track to have a new weekly close near 19.85, the 11th in the last 13 weeks.
Technical levels
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