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13 Mar 2020

USD/MXN Price Analysis: Mexican Peso attempts a recovery after massive

The Mexican peso is attempting a recovery, with USD/MXN trading just under 22 after nearing 23 on Thursday. The US dollar has been attracting safe-haven flows amid a massive sell-off in stocks in response to growing fears related to coronavirus.

The US is moving closer to coordinated action as Democrats and Republicans are nearing an agreement on relief measures.

The number of cases in Mexico remains low. According to data compiled by John Hopkins, 12 cases are confirmed and eight have confirmed. While the figures are low in comparison to other countries, a fall in global demand is weighing on the peso. Moreover, oil prices have tumbled down.

USD/MXN Forecast Chart

Dollar/peso has support at 21.30, followed by 20.40. Resistance is at 22.05, followed by 23.

Mar 13, 2020

NZD/USD extends losses, drops to test 0.6000

The NZD/USD pair broke lower during the American session, ending hours of consolidation and tumbled to 0.6015, slightly above the intraday low it reac

Breaking: BOC delivers a surprise rate cut by 50bps, USD/CAD bounces

BOC delivers a surprise rates cut by 50bps, USD/CAD bounces more to come ...