Create Account Login
Forex

USD/MXN: On track to return below 17.00 for the first time since early September – SocGen

News RoomBy 0 ViewsNo Comments1 Min Read

Share:

The Mexican Peso has rallied 5.9% vs. the US Dollar this month. Economists at Société Générale analyze USD/MXN outlook.

17.70 is near term hurdle

The MXN is on track to strengthen to 17.00/USD for the first time since early September amid broad USD weakness.

The pair is expected to drift towards next potential supports at 17.00 and July/August lows near 16.60. 

Confluence of 50-DMA and 200-DMA near 17.70 is near term hurdle.

The Banxico will release its quarterly inflation report on Wednesday. The forecast should be in line with those of November: average inflation steadily slowing to 4.4% in 4Q23 and 3.4% in 2024, with the average core slowing to 5.3% and 3.3%, respectively.

Read the full article here

Share.

Related News

Leave A Reply

Your road to financial

freedom starts here

With our platform as your starting point, you can confidently navigate the path to financial independence and embrace a brighter future.

Creat Account

Navigation

Platforms

Registered address:

First Floor, SVG Teachers Credit Union Uptown Building, Kingstown, St. Vincent and the Grenadines

Products

For Investors

facebook

twitter

youtube

telegram

instagram

email

Terms & Privacy Policy

CFDs are complex instruments and have a high risk of loss due to leverage and are not recommended for the general public. Before trading, consider your level of experience, relevant knowledge, and investment objectives and seek financial advice. Vittaverse does not accept clients from OFAC sanctioned jurisdictions. Also, read our legal documents and make sure you fully understand the risks involved before making any trading decision