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Mexican Peso Forecast: Muddling Through Weak Data – Setups in MXN/JPY, USD/MXN

Mexican Peso Forecast: Muddling Through Weak Data – Setups in MXN/JPY, USD/MXN
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Covid Virus Risks Weigh on Latam FX; USD/BRL and USD/MXN Spike Higher

Covid Virus Risks Weigh on Latam FX; USD/BRL and USD/MXN Spike Higher 2021-07-01 21:00:00 Diego Colman, Market Analyst Brazilian real and Mexican Peso Outlook: Latin American currencies weaken on coronavirus risk in the first day of July The Brazilian real leads losses and tumbles against the U.S. dollar, Mexican peso also falls, but its decline is more moderate On Friday, investors’ attention will shift to the U.S. employment report Advertisement Latam FX began July and the second half of the year with a negative bias, weighed down by concerns about the more contagious Delta Covid variant affecting many countries. Vaccination rates are advancing at a maddeningly slow pace in Latin America, so the presence of a more transmissible strain of the novel coronavirus poses serious risks, as it may weaken economic recovery and slow the tightening cycles started by many central banks in the region. In this context, USD/BRL surged 1.4% to 5.0620 while USD/MXN jumped 0.3% to 20.00

Mexican Peso Forecast: Bulls Struggling to Find Follow-Through - Setups for MXN/JPY, USD/MXN

Mexican Peso Forecast: Commodities Rally Boosts Peso s Appeal - Setups for MXN/JPY, USD/MXN

Mexican Peso Forecast: Commodities Rally Boosts Peso s Appeal - Setups for MXN/JPY, USD/MXN Advertisement Mexican Peso Outlook: Amid a global commodity price boom in recent weeks, the Mexican Peso has benefited, achieving or nearing yearly highs versus the Japanese Yen and the US Dollar. MXN/JPY rates are flagging after trading through multi-year downtrend resistance, suggesting a major turn may be arriving soon. We can use the IG Client Sentiment Indexfor USD/CAD rates as a close proxy for USD/MXN exposure, which has a mixed bias. Mexican Peso Retaining Strength Throughout the month of April, the combination of stability in long-end global bond yields and a surge in global commodity prices, particularly agriculture and a subset of base metals, has provided a sturdy base from which the Mexican Peso has been able to rally. For the most part, price action remains in line with expectations outlined in our 1Q’21 Top Trade Opportunities and 2Q’21 Top Trade Opportunities. With s

Mexican Peso Forecast: MXN/JPY Breakout, USD/MXN Breakdown in Focus

Mexican Peso Forecast: MXN/JPY Breakout, USD/MXN Breakdown in Focus Advertisement Mexican Peso Outlook: Stability in long-end global bond yields has given room for risk appetite to return to markets, including in the emerging markets currency space. MXN/JPY has traded to its yearly high and are now challenging a multi-year downtrend, while USD/MXN has dropped through its intrayearly uptrend, and a potential head and shoulders pattern may be guiding price action lower. We can use the IG Client Sentiment Indexfor USD/CAD rates as a close proxy for USD/MXN exposure, which has a mixed bias. Mexican Peso Continues to Gain Strength

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