• About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, October 4, 2023
Earth-News
  • Home
  • Business
  • Entertainment

    Building collapse in Havana kills at least one

    Libs limp on to fight another day

    The Race episode two – Dirty tricks

    Australia’s mighty mare who could have conquered Everest

    What past Powerball winners have taught us

    The Exorcist: Believer review: Horror sequel won’t possess your attention for long

    The Exorcist: Believer review: Horror sequel won’t possess your attention for long

  • General
  • Health
  • News
    EastEnders’ Jessie Wallace’s ‘deep regret’ that sparked rift with show bosses

    EastEnders’ Jessie Wallace’s ‘deep regret’ that sparked rift with show bosses

    Mum grieves loss of unborn twin babies after she’s given abortion meds by mistake

    Mum grieves loss of unborn twin babies after she’s given abortion meds by mistake

    Drunk motorist who killed Brit in Spain cleared as ‘alcohol had no affect on his driving’

    Drunk motorist who killed Brit in Spain cleared as ‘alcohol had no affect on his driving’

    Mystery of 128-year-old mummy on display at funeral home to finally be solved

    Mystery of 128-year-old mummy on display at funeral home to finally be solved

    Terrified driver ‘kidnapped’ by own car as police forced to ram vehicle off the road

    Terrified driver ‘kidnapped’ by own car as police forced to ram vehicle off the road

    Will Matt Gaetz’s push to oust Kevin McCarthy backfire on him?

    Will Matt Gaetz’s push to oust Kevin McCarthy backfire on him?

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    iPhone 15 Pro review: Coming from iPhone 12 Pro or earlier? This upgrade will wow you

    iPhone 15 Pro review: Coming from iPhone 12 Pro or earlier? This upgrade will wow you

    The best earbuds of 2023: Expert tested and reviewed

    The best earbuds of 2023: Expert tested and reviewed

    Hurtling toward generative AI adoption? Why skepticism is your best protection

    Hurtling toward generative AI adoption? Why skepticism is your best protection

    How to preorder the Google Pixel 8, Pixel Watch 2, and Pixel Buds Pro now

    How to preorder the Google Pixel 8, Pixel Watch 2, and Pixel Buds Pro now

    Spotify is giving subscribers access to 150,000 audiobooks

    Spotify is giving subscribers access to 150,000 audiobooks

    Today’s best Android app deals: Alien Shooter 2, Three Kingdoms, Space Invaders, and more

    Today’s best Android app deals: Alien Shooter 2, Three Kingdoms, Space Invaders, and more

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment

    Building collapse in Havana kills at least one

    Libs limp on to fight another day

    The Race episode two – Dirty tricks

    Australia’s mighty mare who could have conquered Everest

    What past Powerball winners have taught us

    The Exorcist: Believer review: Horror sequel won’t possess your attention for long

    The Exorcist: Believer review: Horror sequel won’t possess your attention for long

  • General
  • Health
  • News
    EastEnders’ Jessie Wallace’s ‘deep regret’ that sparked rift with show bosses

    EastEnders’ Jessie Wallace’s ‘deep regret’ that sparked rift with show bosses

    Mum grieves loss of unborn twin babies after she’s given abortion meds by mistake

    Mum grieves loss of unborn twin babies after she’s given abortion meds by mistake

    Drunk motorist who killed Brit in Spain cleared as ‘alcohol had no affect on his driving’

    Drunk motorist who killed Brit in Spain cleared as ‘alcohol had no affect on his driving’

    Mystery of 128-year-old mummy on display at funeral home to finally be solved

    Mystery of 128-year-old mummy on display at funeral home to finally be solved

    Terrified driver ‘kidnapped’ by own car as police forced to ram vehicle off the road

    Terrified driver ‘kidnapped’ by own car as police forced to ram vehicle off the road

    Will Matt Gaetz’s push to oust Kevin McCarthy backfire on him?

    Will Matt Gaetz’s push to oust Kevin McCarthy backfire on him?

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Tech
    iPhone 15 Pro review: Coming from iPhone 12 Pro or earlier? This upgrade will wow you

    iPhone 15 Pro review: Coming from iPhone 12 Pro or earlier? This upgrade will wow you

    The best earbuds of 2023: Expert tested and reviewed

    The best earbuds of 2023: Expert tested and reviewed

    Hurtling toward generative AI adoption? Why skepticism is your best protection

    Hurtling toward generative AI adoption? Why skepticism is your best protection

    How to preorder the Google Pixel 8, Pixel Watch 2, and Pixel Buds Pro now

    How to preorder the Google Pixel 8, Pixel Watch 2, and Pixel Buds Pro now

    Spotify is giving subscribers access to 150,000 audiobooks

    Spotify is giving subscribers access to 150,000 audiobooks

    Today’s best Android app deals: Alien Shooter 2, Three Kingdoms, Space Invaders, and more

    Today’s best Android app deals: Alien Shooter 2, Three Kingdoms, Space Invaders, and more

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

USD/MXN advances amid global risk-aversion and strong US Dollar

August 8, 2023
in Business
USD/MXN advances amid global risk-aversion and strong US Dollar
Share on FacebookShare on Twitter

USD/MXN rises 0.30% on Tuesday amidst a risk-off impulse.
Chinese economic woes spurred by imports and exports plunging weakened the Mexican Peso.
Upcoming Mexican inflation data on Wednesday could shed some light on the Bank of Mexico’s next monetary policy decision.

USD/MXN gained traction on Tuesday as risk-aversion triggered outflows from the emerging market currency, one of the largest gainers against the US Dollar (USD) during the year. Soft economic data from China shifted sentiment sour while the greenback rose. At the time of writing, the USD/MXN is trading at 17.1488, with gains of 0.52%.

Table of Contents

  • Emerging market currency USD/MXN witnesses a rally due to soft Chinese economic data and robust US Dollar dynamics
    • USD/MXN Price Analysis: Technical analysis

Emerging market currency USD/MXN witnesses a rally due to soft Chinese economic data and robust US Dollar dynamics

Risk aversion is one of the main reasons, behind the USD/MXN advance on Tuesday, with investors shifting toward the safe-haven status of the greenback after data from China showed that Exports and Imports slumped. Given the backdrop, and China’s deflationary scenario, worldwide economic recovery is at the brisk of a deeper slowdown.

Aside from this, the economic agenda in the United States (US) revealed that its trade deficit shrank in June, as revealed by the US Commerce Department. Exports came at $247.5 billion, below May’s $247 billion, while Imports dipped to $313 billion from $316.1 billion the prior’s month. Hence, the Trade Balance came at $-65.5, a tick higher than the $-65 billion estimated but below the previous reading of $-68.3 billion.

US Treasury bond yields are extending their losses, despite overall US Dollar strength. The US 10-year benchmark note rate sits at 4.022%, losses seven basis points, while the US Dollar Index (DXY) portrays the greenback gaining 0.52%, at 102.612.

Nevertheless, recent commentary from Fed speakers is witnessing a shift from hiking rates to keeping them on hold, except for the Federal Reserve (Fed) Governor Michell Bowman, saying that more rate increases are needed.

On the dovish front, Philadelphia Fed President Patrick Harer said the Fed “can leave interest rates where they are.” However, he added, “Absent any alarming new data between now and mid-September,” the Fed can be “patient and hold rates steady.” Echoing some of his comments was Atlanta’s Fed President Raphael Bostic, saying no more increases are necessary.

On the Mexican front, a light agenda would keep USD/MXN traders leaning on market mood and US Dollar dynamics. However, that would change on Wednesday, as inflation figures for July would be revealed. The Consumer Price Index (CPI) every month is expected at 0.9%, while on an annual basis is estimated at 4.79%. On the US front, the release of July inflation data is much awaited by market participants, with estimates remaining unchanged compared to last month’s data.

USD/MXN Price Analysis: Technical analysis

USD/MXN Daily chart

From a technical standpoint, the USD/MXN downtrend remains intact until buyers reclaim the May 17 daily low of 17.4038, which could pave the way for a test of the 100-day Exponential Moving Average (EMA) at 17.5015. Still, firstly, USD/MXN buyers must crack the 50-day EMA at 17.1347. Conversely, if USD/MXN slumps past 17.0000, the year-to-date (YTD) low of 16.6238 could be put into play.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/usd-mxn-advances-amid-global-risk-aversion-and-strong-us-dollar-202308081712

Tags: advancesbusinessGlobal
Previous Post

United States 3-Year Note Auction down to 4.398% from previous 4.534%

Next Post

40 Unique Gifts That He Won’t Return, Vetted by Gear Editors

House Republicans push IRS for answers on processing pause for small business tax credit

House Republicans push IRS for answers on processing pause for small business tax credit

October 4, 2023
Apple releases fix for overheating iPhone 15 bug in iOS 17.0.3

Apple releases fix for overheating iPhone 15 bug in iOS 17.0.3

October 4, 2023
Biden cancels $9 billion in student debt for 125,000 borrowers

Biden cancels $9 billion in student debt for 125,000 borrowers

October 4, 2023
‘The Donald Trump show is over,’ AG says after ex-president leaves New York fraud trial

‘The Donald Trump show is over,’ AG says after ex-president leaves New York fraud trial

October 4, 2023
This AI company wants to help you control your dreams

This AI company wants to help you control your dreams

October 4, 2023
Marketers reconsider BeReal as it launches its first global brand marketing campaign

Marketers reconsider BeReal as it launches its first global brand marketing campaign

October 4, 2023
Publishers reckon with declining Facebook referral traffic as the platform pulls away from news

Publishers reckon with declining Facebook referral traffic as the platform pulls away from news

October 4, 2023
Why Niantic is investing in rewarded AR to develop new revenue streams

Why Niantic is investing in rewarded AR to develop new revenue streams

October 4, 2023
iPhone 15 Pro review: Coming from iPhone 12 Pro or earlier? This upgrade will wow you

iPhone 15 Pro review: Coming from iPhone 12 Pro or earlier? This upgrade will wow you

October 4, 2023
The best earbuds of 2023: Expert tested and reviewed

The best earbuds of 2023: Expert tested and reviewed

October 4, 2023
Partenaires
afric.info
europ.info
usa-news
lesmeilleureschaussures.fr
goodsforyoutoday.com
looktopbeauty.com
keto-diet.biz
soccernews.info
nba-news.net
sportsprblog.com compar.biz
the-best.top
bestchoices.biz
expert-plus.fr
travel-mag.info
pksportsnews.com
news-sports.org

Categories

Archives

October 2023
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (3,889)
  • Entertainment (3,998)
  • General (2,967)
  • Health (1,902)
  • News (4,496)
  • Science (3,075)
  • Sports (4,146)
  • Tech (3,027)

Recent News

House Republicans push IRS for answers on processing pause for small business tax credit

House Republicans push IRS for answers on processing pause for small business tax credit

October 4, 2023
Apple releases fix for overheating iPhone 15 bug in iOS 17.0.3

Apple releases fix for overheating iPhone 15 bug in iOS 17.0.3

October 4, 2023
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version

USD/MXN advances amid global risk-aversion and strong US Dollar- https://www.maquillages.info/   https://maquillages.org   https://www.deguisements-fetes.fr   https://maillots-de-bain-shop.com   https://www.le-noeud-papillon.com   https://www.jeepeg.fr   https://maillotde-bain.com   https://pushkarvisit.com   -/- According to Luke Fickell, Wisconsin is ‘all-in’ on NIL   Barbie film hits $1bn mark at global box office   Zhuhai Championships: Andy Murray loses to Aslan Karatsev in last 16   Breece Hall named Jets’ offensive X-factor for 2023   Soundking AK20 BA Amplificateur pour Basse   -*-$$DAKINE Split Roller Mallette ordinateur à roulettes, 21 cm, 110 L, Carbon   Veuve Clicquot – Coffret Retraite V.Clicquot Rose   Enceinte Mobile 700W Sono Active DJ KARAOKE 12″ Autonome Batterie à LED RVB + Micro VHF USB/SD/Bluetooth – LedWood Boostar1400   Volkswagen: IT-Störung bei Volkswagen behoben   Newcastle adds BetMGM UK to its bookmaker alliances   $$* Amalia   El Rancho Place d’Italie, Centre commercial Italie 2, place d’Italie 75013 Paris   USD/MXN advances amid global risk-aversion and strong US Dollar *USD/MXN advances amid global risk-aversion and strong US Dollar