Mexican peso ends 7-day positive streak versus US dollar. USD/MXN corrects higher but maintains the bearish trend. The Mexican peso retreated versus the US dollar on Wednesday, posting the first lost since May 15. The decline was modest and it still maintains a positive bias. The improvement in risk sentiment has been supporting the MXN over the last days. On Wednesday, the tone across financial markets was mixed as positive expectations about reopening economics were offset by US-China tensions. The USD/MXN rose from 22.13 to 22.48 on Wednesday and then pulled back to the 22.30 area. It moved off the two-month low it reached on Tuesday at 22.10 but the trend still points to the downside. The key support stands at 22.00/05, a break lower should clear the way to more losses. Banxico presents Q1 report The Bank of Mexico released its quarterly report. The central bank expects the growth at -4.6% in 2020 and a 4.1% rebound in 2021. According to the report the balance of inflation risks is still uncertain. They raised its Q4 inflation forecast to 3.5% from 3.2% and its core to 3.8% from 3.0%. Between 800K to 1.4m jobs could be lost during 2020 according to Banxico. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Bostic: A second infection wave would cause serious concern FX Street 3 years Mexican peso ends 7-day positive streak versus US dollar. USD/MXN corrects higher but maintains the bearish trend. The Mexican peso retreated versus the US dollar on Wednesday, posting the first lost since May 15. The decline was modest and it still maintains a positive bias. The improvement in risk sentiment has been supporting the MXN over the last days. On Wednesday, the tone across financial markets was mixed as positive expectations about reopening economics were offset by US-China tensions. The USD/MXN rose from 22.13 to 22.48 on Wednesday and then pulled back to the 22.30 area. It moved off the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
