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.
Most Recent
The US dollar shot higher during the trading session on Tuesday, breaking above the 17 MXN level, and breaking well above the 50-Day EMA.
The USD got stronger across the Forex board on Wednesday and the USD/MXN mirrored the results.
The US dollar initially fell against the Mexican peso during the trading session on Wednesday.
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The US dollar has rallied a bit against the Mexican peso during the trading session on Monday, as we have seen US dollar strength overall.
In early trading this morning the USD/MXN is near the 16.57000 level which is within a value realm that was last traded in November and December of 2015.
US dollar continues to drop against Mexican peso.