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23 Jan 2024

USD/MXN could head lower towards last year’s low of 16.60 – SocGen

USD/MXN reversed after briefly testing the 200-Day Moving Average (DMA). Economists at Société Générale analyze the pair’s outlook.

17.42/17.55 likely to cap upside

USD/MXN has resumed its decline after testing the trend line drawn since 2021 at 18.48 (now near 18.10). Recent attempt of rebound has faltered near 200-DMA (17.42/17.55). 

Daily MACD has started posting positive divergence however signals of bounce are not yet visible in price action; the Moving Average near 17.42/17.55 must be overcome to denote a meaningful up move.  

Holding below the Moving Average, the pair could head lower towards last year’s low of 16.60 and projections of 16.40/16.10.

 

Jan 23, 2024

EUR/USD dips further below 1.0850 ahead of ECB’s decision, US data

The EUR/USD dropped some 0.12% in early trading during the North American session amid an upbeat market mood.
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Jan 23, 2024

NZ CPI Preview: Forecasts from four major banks, inflation likely to take a step downwards

New Zealand’s Consumer Price Index (CPI) report for the fourth quarter (Q4) will be released on Tuesday, January 23 at 21:45 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of four major banks regarding the upcoming NZ inflation data.
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