ONLINE FOREX BROKER
2020-03-17 • Updated
Performance in 2020: +20%
Last day range: 22.45 – 22.83
52-week range: 18.51 – 23.06
Even if you open a monthly chart, you will not be able to link the current position of the USD/MXN to any point before. Trading at 22.60, this currency pair is at the all-time highs.
As the chart shows, this is a very recent move. It was fueled by the coronavirus-related events and the oil price war. However, it doesn’t mean that the factors pressing on the Mexican peso have just appeared – this currency has been chronically losing its value to the US dollar due to the fundamental weakness of the Mexican economy compared to its northern partner. This weakness has just gained stronger momentum and got propelled to a higher level than before.
Given the current circumstances, there are all the reasons to see the USD/MXN going higher, although a downward correction is to be expected in the short term before the next leap up.
Resistance 22.86
Support 22.45
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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