- The Mexican peso remains under pressure in the market.
- A sharp fall in the dollar does not stop the rise in the USD / MXN.
- Next relevant resistance at the cross that sees at 20.55.
The USD / MXN is trading modestly on Monday, having bounced around the 20.30 area and returned to 20.40. It recently peaked for the day at 20.45, just shy of last week’s peak.
The USD / MXN bounce came despite a general decline in the dollar across the market as equity markets, including Wall Street, are on the rise. The rise in the price of oil did not stop the rebound either. A barrel of WTI exceeded $ 65.00, and is up more than 5%.
The foregoing shows that the Mexican peso continues to be weak and under pressure. In addition to possible domestic issues, there are technical factors for the USD / MXN, which confirmed the breakout of the important 20.25 zone. In case of extending the raises, the next resistance is seen at 20.55.
The week in the markets started with the Friday volatility. This climate could continue considering that ahead comes the important speech of Jerome Powell at the Jackson Hole symposium, on Friday. In it, it could announce details about the Federal Reserve’s purchasing program.
On Mexico Several economic reports will be released throughout the week, including mid-month inflation on Tuesday (August) and growth data on Wednesday.
Technical levels
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