- The Mexican peso remains firm against the dollar, validating the advance of the closing of last week.
- USD / MXN with its sights on support at 20.65 / 70.
Despite the falls in stocks, the Mexican peso remains firm against the dollar. The USD / MXN trades at 20.75, having previously traded at 20.95. The cross could not be maintained in positive territory and it changed trend.
The recovery of the Mexican peso occurred despite the context of risk aversion affecting equity markets. Wall Street futures point to an open with declines on average of 1.25%. In Europe the main indices lose between 1.20% and 2%.
The dollar presents mixed results in the market, without showing a clear trend, although it appreciates against those linked to commodities. Oil lost more than 4% on Monday while metals fell around 0.5%.
The start of the week does not offer significant data from the US, or from Mexico, but over the days it will load. In Mexico, the publication on Wednesday of the October retail sales data stands out and the most important thing will arrive on Thursday with the inflation report for mid-December.
Technically the USD / MXN maintains a very short-term bearish bias, with the key support at 20.65 / 70, the break of that level would prop up the Mexican peso for more gains. In the opposite direction, a rally above 20.90 would ease the downward pressure, favoring a return above 21.00.
Technical levels
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