13 May 2015
USD/MXN lower on US data
FXStreet (Córdoba) - The mexican peso is rising against the dollar on Wednesday, on the back of weak economic data from the United States. USD/MXN dropped from 15.320 to 15.148, reaching a 2-day low but then moved off session lows.
The pair rebounded from 15.150 but the recovery was capped by 15.256 and currently the pair trades at 15.226, down 0.70% for the day.
US Commerce Department numbers showed that retail sales were unchanged in April; analysts were expecting an increase of 0.2%; the annual rate dropped to 0.9%, the lowest level since November 2009.
USD/MXN still bearish but support ahead
The pair still holds a bearish tone in the short term but the downside remains limited. The area around 15.100 (April 16, 17 and May 8 lows) continues to be a strong support. If the mexican peso managed to break it, it could dip further to 15.000.
The pair rebounded from 15.150 but the recovery was capped by 15.256 and currently the pair trades at 15.226, down 0.70% for the day.
US Commerce Department numbers showed that retail sales were unchanged in April; analysts were expecting an increase of 0.2%; the annual rate dropped to 0.9%, the lowest level since November 2009.
USD/MXN still bearish but support ahead
The pair still holds a bearish tone in the short term but the downside remains limited. The area around 15.100 (April 16, 17 and May 8 lows) continues to be a strong support. If the mexican peso managed to break it, it could dip further to 15.000.