OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: USD/MXN testing session highs

FXstreet.com (Barcelona) - The Mexican peso is losing ground against its neighbour on Friday, after the economic activity in the Aztec economy expanded less than forecasts in the first quarter: 0.5% QoQ and 0.8% YoY, vs. 0.8% and 3.2% respectively.

“If data continue to come in soft in Q2 and Q3, then a rate cut will become very likely in Q3 or Q4. However, with inflation of 4.7% y/y still well above the 2-4% target range, easing won't be imminent and we see no move at the June 7 meeting”, noted the BBH Global Currency Strategy Team.

The pair is now advancing 0.42% at 12.3356 and a surpass of 12.4786 (MA100d) would bring 12.6440 (weekly high Mar. 15)
On the other hand, support levels line up at 12.2448 (MA50d) ahead of 12.1598 (MA21d).

Fitch downgrades Slovenia to 'BBB+'; Negative Outlook

Fitch ratings downgraded Slovenia's sovereign debt rating from 'A-' to 'BBB+' according to a recent press release.
Read more Previous

US markets posed for further gains on better data

Better-than-expected data from the US CB Leading Indicator and the consumer sentiment gauged by the U. of Michigan index are bolstering today’s upside in the US equities, heading towards its fourth...
Read more Next
Start livechat