Mexican Peso remains steady below 19.29.
The post Mexican Peso remains steady below 19.29. appeared on BitcoinEthereumNews.com. The Mexican Peso remains supported by risk sentiment. US Consumer Confidence rebounds in May, but USD fails to break technical resistance against the emerging market (EM) Peso. USD/MXN remains confined below trendline resistance at 19.29. The Mexican Peso remains firm against the US Dollar (USD) on Tuesday, despite a positive US Consumer Confidence report and a mild recovery in the Greenback against its major peers. With the US Dollar’s appeal recently coming into question, the Peso has benefited from outflows from the USD into alternative assets. At the time of writing, USD/MXN is trading near 19.22 with trendline resistance firming at 19.29. US demand and sentiment indicators fail to boost USD/MXN US Durable Goods Orders for April, released at 12:30 GMT, came in at -6.3% for April, a sharp decrease from March’s 7.6% reading. While the negative print highlights a slowdown in manufacturing demand, the reading was better than market expectations of a 7.9% contraction, tempering concerns about a steeper downturn. The indicator tracks new orders placed with US manufacturers for long-lasting goods — typically those expected to last three years or more — and serves as a key gauge of industrial activity and business investment. Later in the day, the US Conference Board released its Consumer Confidence Index for May, which showed an impressive recovery to 98, up from 86 in April. Despite the data providing some relief regarding the health of the US economy, it did not trigger a surge in the US Dollar. Fed’s Kashkari urges patience, highlighting uncertainty from economic shocks Neel Kashkari, President of the Federal Reserve (Fed) Bank of Minneapolis, provided a temporary boost in confidence this Tuesday. When speaking at the Tokyo summit, where bankers, policymakers, and economists gathered to discuss monetary policy, he maintained a hawkish tone. To conclude his speech, Kashkari…
The post Mexican Peso remains steady below 19.29. appeared on BitcoinEthereumNews.com.
The Mexican Peso remains supported by risk sentiment. US Consumer Confidence rebounds in May, but USD fails to break technical resistance against the emerging market (EM) Peso. USD/MXN remains confined below trendline resistance at 19.29. The Mexican Peso remains firm against the US Dollar (USD) on Tuesday, despite a positive US Consumer Confidence report and a mild recovery in the Greenback against its major peers. With the US Dollar’s appeal recently coming into question, the Peso has benefited from outflows from the USD into alternative assets. At the time of writing, USD/MXN is trading near 19.22 with trendline resistance firming at 19.29. US demand and sentiment indicators fail to boost USD/MXN US Durable Goods Orders for April, released at 12:30 GMT, came in at -6.3% for April, a sharp decrease from March’s 7.6% reading. While the negative print highlights a slowdown in manufacturing demand, the reading was better than market expectations of a 7.9% contraction, tempering concerns about a steeper downturn. The indicator tracks new orders placed with US manufacturers for long-lasting goods — typically those expected to last three years or more — and serves as a key gauge of industrial activity and business investment. Later in the day, the US Conference Board released its Consumer Confidence Index for May, which showed an impressive recovery to 98, up from 86 in April. Despite the data providing some relief regarding the health of the US economy, it did not trigger a surge in the US Dollar. Fed’s Kashkari urges patience, highlighting uncertainty from economic shocks Neel Kashkari, President of the Federal Reserve (Fed) Bank of Minneapolis, provided a temporary boost in confidence this Tuesday. When speaking at the Tokyo summit, where bankers, policymakers, and economists gathered to discuss monetary policy, he maintained a hawkish tone. To conclude his speech, Kashkari…
What's Your Reaction?
