- Mexican peso recovers after falling in Asian session to lows in a month and a half.
- USD / MXN maintains short-term bullish tone.
USD / MXN is trading just above 20.00, very close to where it closed on Friday, which was the highest close since July 23. After the start of the week the crossing climbed to 20.09, before changing direction and falling to 19.99.
Both the rise in the USD / MXN and the subsequent fall occurred as a result of the general movements of the dollar in the market. The expectation of Federal Reserve policy after Friday’s employment data boosted the dollar and Treasury yields.
The rise in equity markets in recent days has not served to boost emerging market currencies that ended the week negative. The Mexican peso was one of those that had the most moderate decline.
Mexico: inflation at 5.81% in July
In the week in which the Bank of Mexico will hold the meeting of the Governing Board, it was learned that the consumer price index rose 5.81% in July compared to a year ago. The rise in the month was 0.59% and 0.48% of the underlying. The data did not generate major surprises.
The Thursday the decision of Banxico will be known, which is expected to raise the benchmark interest rate by 25 basis points. In addition, news will be introduced in the communication such as knowing how each vote was.
Technical levels
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