21 May 2015
USD/MXN climbs to highs on GDP
FXStreet (Edinburgh) - The Mexican peso is now losing further ground vs. its northern neighbor, pushing USD/MXN to intraday tops near 15.25.
USD/MXN stronger on data
The pair saw its upside intensified after the Mexican GDP figures showed the economy expanded 0.4% inter-quarter during Q1 and 2.5% over the last twelve months, bettering expectations albeit a tad lower than the previous prints. In addition, the Economic Activity contracted 0.6% MoM during March and rose 2.7% on a yearly basis.
North of the Rio Grande, Markit’s manufacturing PMI came in on the softer side, falling to 53.8 for the current month vs. 54.5 expected and April’s 54.1.
USD/MXN important levels
As of writing the pair is advancing 0.31% at 15.2412 and a breakout of 15.4295 (high May 12) would open the door to 15.5935 (high May 1) and finally 15.6676 (high Mar.10). On the downside, the next support lines up at 15.0737 (low May 19) followed by 15.0035 (low May 18) and then 14.8347 (low Apr.8).
USD/MXN stronger on data
The pair saw its upside intensified after the Mexican GDP figures showed the economy expanded 0.4% inter-quarter during Q1 and 2.5% over the last twelve months, bettering expectations albeit a tad lower than the previous prints. In addition, the Economic Activity contracted 0.6% MoM during March and rose 2.7% on a yearly basis.
North of the Rio Grande, Markit’s manufacturing PMI came in on the softer side, falling to 53.8 for the current month vs. 54.5 expected and April’s 54.1.
USD/MXN important levels
As of writing the pair is advancing 0.31% at 15.2412 and a breakout of 15.4295 (high May 12) would open the door to 15.5935 (high May 1) and finally 15.6676 (high Mar.10). On the downside, the next support lines up at 15.0737 (low May 19) followed by 15.0035 (low May 18) and then 14.8347 (low Apr.8).