USD: waiting for the reaction of the US purchasing managers
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
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.
Similar
Will the GDP growth strengthen the CAD?
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
Pound Sterling is recovering against Dollar
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
Latest news
South Africa got ‘junk’ status from Moody’s
Moody’s downgraded the country to ‘junk’ status on Friday.
The US has joined the rest of the world in recession
The US economy has been hit hard by the coronavirus outbreak.
USD: waiting for the reaction of the US purchasing managers
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Deposit with your local payment systems
