What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
USD/MXN: the rate decision is ahead
The Bank of Mexico is expected to cut its interest rate from 7.75% to 7.5% today at 21:00 MT time
The market has been already pricing in the interest rate decision. On H4, USD/MXN has tested the highs at 19.48-19.50. That is why the pair may move lower after the announcement.
If the Banxico surprises with a bigger rate cut, the Mexican peso will weaken. In this case, the retest of the 19.48-19.5 levels may be possible for USD/MXN. The next resistance will lie at 19.5450.
If the regulator leaves the interest rate unchanged, the Mexican currency will strengthen. This scenario increases the opportunity for USD/MXN to break the 19.41 level on H4. The next support will lie at 19.34.
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
The Bank of England will publish a monetary policy statement and update on the interest rate on Thursday, at 14:00 MT time.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).