7 May 2015
USD/MXN drops to session lows
FXStreet (Edinburgh) -The Mexican peso is gathering pace vs. its neighbour now, dragging USD/MXN to test the area of daily lows around 15.30.
USD/MXN weaker on data
The pair accelerated its decline after consumer prices in the Mexican economy contracted at a monthly pace of 0.26% during the last month, and advanced 3.06% on a yearly basis, vs. consensus at -0.24% and 3.10%, respectively. Core prices, instead, surprised to the upside, gaining 0.16% inter-month.
The pair is resuming its weekly descent from tops near 15.60, retracing part of last week’s significant upside.
USD/MXN levels to watch
At the moment the pair is retreating 0.48% at 15.2878 with the next support at 15.2446 (low May 6) ahead of 15.2111 (low Apr.30) and then 15.1445 (low Apr.29). On the flip side, a breakout of 15.4381 (high May 7) would open the door to 15.4838 (high May 5) and finally 15.5798 (high May 4).
USD/MXN weaker on data
The pair accelerated its decline after consumer prices in the Mexican economy contracted at a monthly pace of 0.26% during the last month, and advanced 3.06% on a yearly basis, vs. consensus at -0.24% and 3.10%, respectively. Core prices, instead, surprised to the upside, gaining 0.16% inter-month.
The pair is resuming its weekly descent from tops near 15.60, retracing part of last week’s significant upside.
USD/MXN levels to watch
At the moment the pair is retreating 0.48% at 15.2878 with the next support at 15.2446 (low May 6) ahead of 15.2111 (low Apr.30) and then 15.1445 (low Apr.29). On the flip side, a breakout of 15.4381 (high May 7) would open the door to 15.4838 (high May 5) and finally 15.5798 (high May 4).