24 Mar 2015
USD/MXN back below 15.00
FXStreet (Edinburgh) - The Mexican peso is now recovering part of the ground lost to the greenback, dragging USD/MXN back to the area sub-15.00.
USD/MXN testing 4-week lows
The pair is retreating for the fourth consecutive week so far, coming down from recent multi-year tops near 15.7000 amidst an increasing selling tone in the US dollar.
In the data space, Mexican 1st Half-Month CPI came in at 0.18% for the present month, missing forecasts for a 0.21% gain albeit higher than the 0.11% previous; the Core print followed suit, at 0.15% vs. 0.20% estimated and 0.28% previous.
In the US economy, inflation figures tracked by the CPI, Markit’s manufacturing PMI and New Home Sales all came in above expectations, somewhat supporting the USD.
USD/MXN significant levels
The pair is now advancing 0.19% at 14.9582 and a surpass of 15.0140 (high Mar.24) would expose 15.1668 (50% of 15.3555-14.9785) and then 15.6690 (high Mar.11). On the downside, the next support lies at 14.9270 (low Mar.23) ahead of 14.9070 (low Feb.27) and then 14.8691 (daily cloud top).
USD/MXN testing 4-week lows
The pair is retreating for the fourth consecutive week so far, coming down from recent multi-year tops near 15.7000 amidst an increasing selling tone in the US dollar.
In the data space, Mexican 1st Half-Month CPI came in at 0.18% for the present month, missing forecasts for a 0.21% gain albeit higher than the 0.11% previous; the Core print followed suit, at 0.15% vs. 0.20% estimated and 0.28% previous.
In the US economy, inflation figures tracked by the CPI, Markit’s manufacturing PMI and New Home Sales all came in above expectations, somewhat supporting the USD.
USD/MXN significant levels
The pair is now advancing 0.19% at 14.9582 and a surpass of 15.0140 (high Mar.24) would expose 15.1668 (50% of 15.3555-14.9785) and then 15.6690 (high Mar.11). On the downside, the next support lies at 14.9270 (low Mar.23) ahead of 14.9070 (low Feb.27) and then 14.8691 (daily cloud top).