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 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.
The USD/MXN this morning is testing the key 19.00000 ratio.
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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.
The US dollar initially tried to rally a bit during the course of the trading session on Thursday, but then gave back to show signs of weakness.
The US dollar has fallen pretty significantly during the early hours on Wednesday against the Mexican peso.
The Mexican peso of course is an emerging market currency.
The US dollar has rallied rather significantly during the course of the session on Friday against the Mexican peso after the jobs number in the United States came out much weaker than anticipated.
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The USD/MXN this morning climbed above the 20.00000 momentarily.
Traders who were convinced the incremental higher price action in the USD/MXN exchange rate was temporary when it happened a week and a half ago were rudely treated to more buying action in the currency pair last week.
The US dollar initially tried to rally against the Mexican peso, but then fell rather significantly to break back down below the 18 pesos level.
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The opening in the USD/MXN did jump higher but trading since the early gap was created this morning has calmed and the higher realm of 17.84500 did not last long.
In my daily analysis of the Mexican peso, it's easy to see that the dollar is starting to soften against the peso, but it's worth noting that we are hanging around the 18 pesos level, which has a lot of psychology attached to it.