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USD / MXN remains sideways, around 19.90

  • Mexican peso remains in the recent range against the dollar.
  • Optimism on Wall Street, collides with rising yields and a stronger dollar.

The USD / MXN is trading without major changes and remains within the range of several days ago, trading around 19.90. Thursday’s rise is given before a mixed dollar in the market and with an advance in the stock markets.

The Mexican peso was not affected by the recent publication of the minutes of the last meeting of the Bank of Mexico. The agency is expected to revise inflation expectations upwards, further moving away any expectation of a cut in interest rates in the short to medium term.

As for the markets, the Dow Jones is up 0.65% and the Nasdaq 0.02%. The rebound in the markets did not serve the Mexican peso much for the moment. Emerging market currencies show mixed results against the dollar and moderate variations.

Technical overview

The USD / MXN has been holding for a week with lateral movements, without being able to overcome 20.00, and with support above 19.80. Indicator signals are not clear. Now they look more skewed to the upside, but not strong enough.

A close above 20.00 would also imply surpassing the 20-day moving average, which would leave the dollar strengthened to extend the bullish journey. In the opposite direction, below 19.80, it would point to a greater strength of the Mexican peso.

Technical levels

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