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8 May 2015
USD/MXN dips to sub-15.20
FXStreet (Edinburgh) - The Mexican peso is gathering momentum vs. its northern neighbor on Friday, now sending USD/MXN to test session lows in the 15.16 area.
USD/MXN weaker on Mexico, US data
The pair saw its downside accelerated after US Non-farm Payrolls came in at 223K during April, just slightly below consensus at 225K, and the jobless rate ticked lower to 5.4% during the same period.
On the Mexican side, Consumer Confidence dropped to 91.3 during last month, a tad lower than March’s reading at 93.1 and below forecasts for 93.7. The pair is now posting multi-day lows, extending the rejection from recent tops in the 15.60 region.
USD/MXN levels to watch
At the moment the pair is retreating 0.95% at 15.1735 with the next support at 15.1582 (low May 8) ahead of 15.1445 (low Apr.29) and then 15.1178 (low Apr.17). On the flip side, a breakout of 15.4381 (high May 7) would open the door to 15.4838 (high May 5) and finally 15.5798 (high May 4).
USD/MXN weaker on Mexico, US data
The pair saw its downside accelerated after US Non-farm Payrolls came in at 223K during April, just slightly below consensus at 225K, and the jobless rate ticked lower to 5.4% during the same period.
On the Mexican side, Consumer Confidence dropped to 91.3 during last month, a tad lower than March’s reading at 93.1 and below forecasts for 93.7. The pair is now posting multi-day lows, extending the rejection from recent tops in the 15.60 region.
USD/MXN levels to watch
At the moment the pair is retreating 0.95% at 15.1735 with the next support at 15.1582 (low May 8) ahead of 15.1445 (low Apr.29) and then 15.1178 (low Apr.17). On the flip side, a breakout of 15.4381 (high May 7) would open the door to 15.4838 (high May 5) and finally 15.5798 (high May 4).