Get started

U.S. Dollar / Mexican Peso

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals Economic Calendar

USDMXN trade ideas

USDMXN In August the Mexican peso weakened from 19.848 to 20.071 against the US dollar. Economists at MUFG Bank expect MXN to depreciate from the 4Q onwards amid tapering cycle in the United States. Mounting COVID-19 cases and deaths with Delta variant, and sluggish vaccination rollout in Mexico “Assuming that FED tapering starts later this year and it will carry on at a gradual pace during next year, we see room for moderate MXN appreciation in the near-term as market fears over more aggressive tapering ease.” “However, the pace of MXN appreciation tends to be limited by the more concerning COVID-19 scenario in Mexico. The pace of vaccination continues to be sluggish, the number of cases is at record levels and deaths have been increasing as well.” “We now expect the MXN to be at around 20.150 at the end of September.” “From 4Q onwards, there is room for gradual MXN depreciation driven first by the beginning of Fed tapering, followed by the expectation of the FED funds rate hikes that might start later next year/early in 2023.”
by globalsymmetrygroup
USDMXN updates after JacksonThe positional struggle, or put simple the slow siege from sellers back to the base is finally exhausting. Powell has attacked with a move several times the strength of the surrounding defence. USD will now maintain the pressure and birth of fresh strength will unlock the next leg higher in USDMXN. Since 2018 we have been tracking the explosion higher. The break of the ABCDE triangle with Covid has already been analysed several times, much rather talk about the significance of the next move. Well, it renders the precedent and totally immobility of MXN, Powell confirming the USD offer is starting to expire means breaking strong support is no longer possible. On the technicals we must be clear, the 18 handle contains not a little resentment but rather the ambitious dreams of forcing another move similar to what we saw in 2020, allowing our opponent into a false sense of security with a trap before capitulating as far as the eyes can see. The resistance to the topside is now mostly dead and buried. For those looking to buy, the goal above comes in to play at 22.3x and 22.9x as a ideal extension.
Long
by ridethepig
2