USD/MXN hits weekly lows but Mexican peso slowly loses shine

  • Mexican peso continues to be among top performer, rally loses momentum. 
  • USD/MXN heads for third decline in-a-row holds above the 100-day SMA. 

The Mexican peso extended the rally on Tuesday that followed the decision of US President Trump to suspend tariffs to Mexican imports. The USD/MXN bottomed at 19.08 during the American session but then rose back above 19.10. 

As of writing point to 19.15 as equity prices in Wall Street and crude oil prices hit fresh daily lows. The shift in markets mood and some potential profit taking, favored the bounce to the upside in USD/MXN. 

The pair still trades significantly below the level it closed on Friday. A gap between 19.62 and 19.32 remains open. The positive momentum for the Mexican peso eased over the recent session. A daily close well below 19.13 (100-day moving average) could point to further losses but the rebound back above could suggest that the slide could take a pause over the next sessions. On the upside, resistance levels might be seen at 19.25 (20-day moving average) and 19.30. 

Data from the US and Mexico 

In the US, PPI data released today had no impact on markets. Wholesale inflation came as expected. On Wednesday, CPI numbers are due. 

In Mexico, the statistics institute INEGI published that the industrial output increased by 1.5% in April. It was the first increase in four months and could help the economy avoid recession after a contraction in GDP by 0.2% during the first quarter. 

The outlook for the Mexican economy continues to be dominated by uncertainty. Despite the agreement between the US and Mexico, last week rating downgrades to Pemex and Mexico’s debt, added to concerns. 


Today last price 19.1444
Today Daily Change -0.0697
Today Daily Change % -0.36
Today daily open 19.2141
Daily SMA20 19.2619
Daily SMA50 19.0953
Daily SMA100 19.1415
Daily SMA200 19.3644
Previous Daily High 19.3289
Previous Daily Low 19.136
Previous Weekly High 19.8799
Previous Weekly Low 19.4667
Previous Monthly High 19.8284
Previous Monthly Low 18.7907
Daily Fibonacci 38.2% 19.2097
Daily Fibonacci 61.8% 19.2552
Daily Pivot Point S1 19.1238
Daily Pivot Point S2 19.0334
Daily Pivot Point S3 18.9309
Daily Pivot Point R1 19.3167
Daily Pivot Point R2 19.4192
Daily Pivot Point R3 19.5096




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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.


GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 


USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.


Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more