USD/MXN refers to the US Dollar/ Mexican Peso currency pair. USD/MXN is an exotic pair, as Mexico is considered a developing economy, and it is being traded against a major currency....
The USD/MXN pair can be traded in the US from Sunday evening until Friday afternoon though trading volume and levels of volatility vary greatly. In general, morning hours present the best time to trade the Mexican Peso as this period includes the release of US economic data (8.30-10 am ET) and it is the window of greatest activity. Mexican peso trading hours also follow US equity and futures exchange hours. Mexico’s natural resources make it a commodity-based currency. It is a top-15 producer of oil, and the value of the MXN is strongly influenced by oil and gas price fluctuations and any other economic indicators impacting energy futures markets, such as the US Oil Inventory report. Moreover, the Mexican peso is interdependent with the Colombian peso (COP) and the Brazilian real (BRL), both of which are heavily reliant on petroleum exports. The USD/MXN currency pair is impacted by events occurring both in Mexico and the US. The two countries’ economic policies are correlated, with Banco de México frequently announcing decisions close on the heels of US Federal Reserve announcements.
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The US dollar pulling back a bit against the Mexican peso, perhaps reaching toward the 50 Day EMA underneath, which of course will offer quite a bit of support.
The USD/MXN currency pair is trading near the 19.39615 ratio as of this morning.
The US dollar fell again during the trading session on Friday as traders continued to short the greenback based on the idea that the Federal Reserve may cut interest rates.
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In early trading this morning the USD/MXN has been able to sustain the lower elements of its near-term depths.
Traders who believe the USD/MXN exchange rate is in overbought territory cannot be faulted.
The US dollar has rallied again against the Mexican peso, breaking above the 20 pesos level for the third time now.
The US dollar has gone back and forth during trading on Wednesday as we continue to hang around the 19.78 level.
The USD/MXN currency pair while experiencing lower trading volume yesterday because of the U.S holiday, managed to climb to a high of nearly 19.85295 before reversing slightly lower.
The US dollar has pulled back a bit against the Mexican peso during the trading session on Friday, as the 20 MXN level continues to be a bit difficult.
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All of last week until Friday, the USD/MXN exhibited waves of increasing nervous buying.
The US dollar has rallied a bit during the course of the trading session on Wednesday against the Mexican peso.
The USD/MXN early last week fought off reversals higher which pushed the currency pair back above the 19.00000 level.
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Sign up to get the latest market updates and free signals directly to your inbox.The USD/MXN this morning is testing the key 19.00000 ratio.
The US dollar rallied slightly during the early hours on Monday as it looks like we are trying to break above the 19 MXN level.
The US dollar has stabilized a bit during the trading session on Friday against the Mexican peso near the 18.83 level.