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).

 

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