(Last Updated March 1, 2021)
Hello! This is the news page for USDMXN. Below you’ll find our daily market updates. Here’s a technical and fundamental summary of where things currently stand:
| metric_name | reference_period | asset_name | asset_id | date | time | forecast | outcome |
|---|---|---|---|---|---|---|---|
| United States Fed Williams Speech | NA | US Dollar | USD | 2021-03-01 | 14:00 GMT | ||
| United States Fed Brainard Speech | NA | US Dollar | USD | 2021-03-01 | 14:05 GMT | ||
| United States Markit Manufacturing PMI Final | Feb 2021 | US Dollar | USD | 2021-03-01 | 14:45 GMT | 58.5 | |
| United States ISM Manufacturing New Orders | Feb 2021 | US Dollar | USD | 2021-03-01 | 15:00 GMT | ||
| United States ISM Manufacturing Prices | Feb 2021 | US Dollar | USD | 2021-03-01 | 15:00 GMT | 80 |
As for trends on USDMXN, we’re seeing an uptrend on shorter timeframes — but a downtrend on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
The moving averages on USDMXN summarize its price action in an interesting way. The 20 and 50 day averages are pointing upwards, suggesting a bullish trend, in contrast to the downward-facing 100 and 200 day averages that imply a bearish trend. Ultimately, this suggests a bullish trend on shorter timeframes, compared to a bearish trend when observing more than 3 months of data.
The chart below illustrates.
Regarding USDMXN’s correlations over the past 7 days, it has demonstrated the strongest correlation with ZARJPY. If we zoom out to a two week basis, though, the asset showing the strongest correlation to USDMXN is EURNOK. Alternatively, USDCAD has been the asset least correlated with USDMXN — but over the past two weeks, AUDNZD has been the asset least correlated with USDMXN. The chart below illustrates USDMXN against its least correlated assets.
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At the time of this writing, USDMXN’s rate is up 4203 pips (2.06%) from the week prior. Moreover, note that this is the 2nd week in a row USDMXN has seen its price head up. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 5, 10 and 20 week timeframes. Looking further out, the moving averages on the weekly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The weekly chart below shows USDMXN’s price action over the past year.
Strongest trend on the 60 month timeframe.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 18.68% from the day prior, and up 255.66% from the same day the week before.
The price move occurred on stronger volume, as measured by the number of tick price changes; specifically, yesterday’s volume was up 18.68% from the day prior, and up 255.66% from the same day the week before.
This imputes a buy/sell ratio of 0, which is quite bearish.
Out of the 40 instruments in the forex asset class, usd/mxn ended up ranking 16th for the day in terms of day-over-day price change.
Out of the 40 instruments in the forex asset class, usd/mxn ended up ranking 2nd for the day in terms of day-over-day price change.
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down.
The clearest trend exists on the 90 day timeframe, which shows price moving down over that time.
Relative to other instruments in the forex asset class, usd/mxn ranked 39th yesterday in terms of percentage price change.
Relative to other instruments in the forex asset class, usd/mxn ranked 21st yesterday in terms of percentage price change.
Out of the 40 instruments in the forex asset class, usd/mxn ended up ranking 27th for the day in terms of day-over-day price change.