Mexican Peso edges lower as market sentiment ebbs, volatility falls

The Mexican Peso edges lower on Tuesday as market sentiment dips on a variable global interest-rate outlook. Israel’s bombing of a tent camp in Rafah continues to keep geopolitical tensions fraught. MXN maintains a bullish long-term trend on the back of a higher interest-rate outlook.

Despite the break, the new short-term uptrend remains intact and still favors longs over shorts. USD/MXN 4-hour Chart A break above the 16.76 would probably confirm a continuation of the young uptrend to a possible target at the previous range lows around 16.85. The Moving Average Convergence Divergence indicator has crossed below its red signal line, giving a sell signal and possibly indicating further weakness. A break below the swing low at 16.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Mexican Peso trades higher on positive market mood, robust Mexican dataThe Mexican Peso (MXN) trades marginally higher on Monday, supported by a rise in risk appetite after lower-than-expected US jobs’ data raised hopes the Federal Reserve (Fed) will move to cut interest rates, reducing borrowing costs for businesses and consumers.
Source: FXStreetNews - 🏆 14. / 72 Read more »