USD/MXN sidelined at all-time highs ahead of Trump
|The Mexican Peso is trading almost unchanged vs. its north American peer on Tuesday, with USD/MXN around 21.80 for the time being.
USD/MXN all the attention to Trump’s presser
MXN has come under renewed and strong selling pressure since Donald Trump was elected the next US president back in November, subsequently losing ground in the next eight out of ten weeks, including yesterday’s fresh all-time lows just below the 22.00 mark.
Today’s salient event will be the press conference by Donald Trump in New York ahead of January 20, when he is due to take office.
The main focus today will be on the potential polices to be implemented under his administration, although MXN could come under extra pressure in case themes like immigration, border tax and foreign affairs emerge.
Further news around the Peso cited the Mexican central bank, Banxico, informing that it rump up its interventions in the FX markets in order to alleviate MAX weakness.
In the Mexican docket, Industrial Production is expected to have expanded at an annualized 0.5% during November.
USD/MXN levels to watch
At the moment the pair is retreating 0.02% at 21.7825 facing the next support at 21.3550 (low Jan.10) followed by 21.1950 (low Jan.6) and finally 20.9018 (20-day sma). On the upside, the next hurdle lines up at yesterday’s historical tops at 21.8428 (all-time highs Jan.10).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.