30 Apr 2015
USD/MXN muted on Banxico
FXStreet (Edinburgh) - The Mexican peso remained apathetic following the Banxixo decision, with USD/MXN hovering over 15.35/36 so far.
USD/MXN capped by 15.4000
The pair practically posted no reaction after Banxico left its monetary stance unchanged in today’s meeting, with the refi rate at 3%, broadly in line with market expectations.
Spot keeps the trade in the upper extreme of the intraday range, despite a break above the 15.40 area still remains elusive. Ahead in the session, the Mexican Fiscal Balance for the month of May is due, with consensus pointing to a $50.33 billion surplus.
USD/MXN levels to watch
The pair is now advancing 0.86% at 15.3614 with the initial hurdle at 15.4072 (high Apr.30) followed by 15.4326 (high Apr.27) and then 15.4918 (high Apr.21). On the flip side, a breakdown of 15.1883 (low Apr.28) would open the door to 15.1149 (low Apr.16) and finally 15.0717 (low Apr.10).
USD/MXN capped by 15.4000
The pair practically posted no reaction after Banxico left its monetary stance unchanged in today’s meeting, with the refi rate at 3%, broadly in line with market expectations.
Spot keeps the trade in the upper extreme of the intraday range, despite a break above the 15.40 area still remains elusive. Ahead in the session, the Mexican Fiscal Balance for the month of May is due, with consensus pointing to a $50.33 billion surplus.
USD/MXN levels to watch
The pair is now advancing 0.86% at 15.3614 with the initial hurdle at 15.4072 (high Apr.30) followed by 15.4326 (high Apr.27) and then 15.4918 (high Apr.21). On the flip side, a breakdown of 15.1883 (low Apr.28) would open the door to 15.1149 (low Apr.16) and finally 15.0717 (low Apr.10).