Mexican Peso (MXN) extends its rally against the US Dollar (USD), with the USD/MXN dropping below the important technical 200-day Simple Moving Average (SMA), as market participants speculate the US Federal Reserve (Fed) is done hiking rates after Wednesday’s decision.
Mexican Peso extends rally against the US Dollar, with USD/MXN dropping below 200-day SMA. Federal Reserve holds rates steady, with Chair Jerome Powell's remarks perceived as hinting at the end of the rate hike cycle. Money market players estimates the Fed’s first rate cut by June 2024, a headwind for the USD/MXN The fall in Treasury bond yields in the United States dampens appetite for the American Dollar . The USD/MXN pair trades below 17.60, registering losses of nearly 1% on the day.
38%. Mexico’s core inflation rate YoY was 5.54%, beneath forecasts of 5.60%. The Bank of Mexico held rates at 11.25% in September and revised its inflation projections from 3.50% to 3.87% for 2024, above the central bank’s 3.00% target . The next decision will be announced on November 9. Technical Analysis: Mexican Peso buyers conquered the 200-day Simple Moving Average, USD/MXN eyes 17.50 The USD/MXN finally plunged below the 200-day Simple Moving Average at 17.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Mexican Peso soars against US Dollar amid weak US data before Fed’s decisionThe Mexican Peso (MXN) gathered traction against the US Dollar (USD) on Wednesday as market sentiment shifted positively due to a tranche of weaker-than-expected economic data from the United States, which weighed on the Greenback (USD).
Les mer »
Mexican Peso trades sideways despite Mexico’s upbeat data, ahead of Fed’s decisionMexican Peso (MXN) trades almost sideways against the US Dollar (USD) early morning during Tuesday’s North American session amid month-end flows and despite good economic data from Mexico.
Les mer »
USD/MXN: Mexican Peso might appreciate a bit further in the short-runThe Mexican Peso showed another month of sizeable weakening in October.
Les mer »
US Dollar Index outlook: Dollar eases on signals of likely peak in US interest ratesThe dollar index started trading with gap-lower and edged lower in early Thursday, deflated by dovish Fed.
Les mer »
US Dollar gains momentum as Fed meeting gets underwayThe US Dollar (USD) is up on Tuesday, with the DXY index rising to 106.
Les mer »
Canadian Dollar reverses course, falls to new twelve-month low as Fed decision loomsThe Canadian Dollar (CAD) has seen a quick end to its almost-rally on Monday, getting pushed back down and tipping into a fresh twelve-and-a-half-month low against the US Dollar (USD).
Les mer »