17.216
Today
-0.05%
5 Days
+1.46%
1 Month
+1.58%
6 Months
-3.65%
Year to Date
-4.38%
1 Year
-5.95%
Opening Price
17.179Previous Closing Price
17.225
In spite of the current rebound, our pivot threshold at 17.2481 has not been hit and our target remains 17.1419
above 17.2481, look for 17.2878 and 17.3114.
In spite of the current rebound, our pivot threshold at 17.2481 has not been hit and our target remains 17.1419
• Hawkish Fed expectations and narrowing rate differentials drove USDMXN higher. • Banco de Mexico's anticipated policy pause limited peso upside potential. • Technical resistance breakouts and stop-loss executions accelerated upward currency momentum.
The Mexican Peso loses some ground against the US Dollar as USD/MXN rises by over 0.09% amid a sour market mood and the strength of the Greenback, ahead of the September 16 FOMC monetary policy decision. The exotic pair trades at 17.15, after hitting a yearly low of 17.10.
• USDMXN rose due to a firmer U.S. dollar and rising Treasury yields. • Mexican peso faced headwinds from cooling core inflation and profit-taking activities. • Global risk aversion and defensive positioning further pressured the Mexican peso.
The Mexican Peso clings to gains against the US Dollar on Wednesday following the presentation of Mexico’s government fiscal package in Congress, while traders await the release of US inflation data. The USD/MXN trades at 16.89, down 0.09% near yearly lows.
The Mexican Peso remains unchanged against the US Dollar on Tuesday as market participants await the release of Mexico’s Fiscal package, which will be delivered to the Mexican Congress for approval. At the time of writing, the USD/MXN trades at 16.91 flatlined.
Michael Pfister at Commerzbank highlights that the Mexican Peso has strengthened, with USD/MXN back below 17, helped by a weaker Dollar and Mexico’s strong performance among major currencies.
The Indicators feature provides value and direction analysis for various instruments under a selection of technical indicators, together with a technical summary.
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Please note that technical analysis is only part of investment reference, and there is no absolute standard for using numerical values to assess direction. The results are for reference only, and we are not responsible for the accuracy of the indicator calculations and summaries.
