
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Pfizer vaccine comes to Mexico this week to make this country one of the first in Latin America to start the treatment. 1.4 million doses are expected by the end of January – that’s while the Mexico City sees a spike of infections and sees restrictions for nonessential activity. Countrywide, 1.33 million cases are recorded with more than 118,000 mortalities.
Domestically, the US dollar is being pushed to the softer side on the Fed’s monetary direction and the delay of the stimulus. Coupled with the optimism of the vaccine for Mexico that supports the peso, it continues the long-term wavy downtrend of USD/MXN that has been there for the last six months. However, occasional spikes to the upside may put that trend to a test: the double bottom of 19.75 doesn’t seem to be a near-term target, and the crossing of 20.00 to the upside puts USD/MXN on the collision course with the trend’s upside. The high of 20.65 has been already touched a week ago so coming back up to it is definitely a possibility. Therefore, let’s watch this local rise and see if it bounces downwards or pushes through the trend’s upside.
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
We prepared an outlook of major events of this week. Check it and be ready!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
In today's market insights, we delve into Citibank's oil price predictions, the evolving competition between Huawei and Apple, the Saudi Arabia-Tesla partnership, and the upcoming rate decisions from the world's major central banks.
It will be the hottest week of September, with four central banks’ meetings, five PMI releases, and a lot to trade.
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!