The USDMXN represents the currency pair symbol that is the shortened term for the United States dollar against Mexican peso pair or cross for the currencies of the United States dollar (USD) and the Mexican peso (MXN).The currency pair USDMXN indicates how many Mexican peso (the quote currency) are needed to purchase one United States dollar (the base currency).
USDMXN Live Chart
Below is presented USDMXN live chart:
USDMXN technical analysis
Below is presented USDMXN technical analysis for short and long-term time frames:
Several factors influence the USD/MXN exchange rate. Trade balances play a direct role since a trade surplus for Mexico typically leads to a stronger Peso and vice versa. Economic indicators, including inflation rates, interest rates, and GDP growth, also impact the rate. Moreover, political events, elections, and policy changes in either nation can induce volatility in the currency pair. Being a significant exporter of oil, changes in oil prices can sway the strength of the MXN. Higher oil prices could mean a stronger Peso relative to the USD. Furthermore, monetary policy decisions, whether by the Federal Reserve in the US or the Banco de México in Mexico, can influence the pair’s movement.
Historically, the USD/MXN has shown more volatility than some of the major currency pairs like EUR/USD or USD/JPY. This volatility can be traced back to economic data revelations, geopolitical events, trade balance shifts, and commodity price fluctuations, especially in oil. The pair has also been a popular choice for carry trade strategies due to the traditionally higher interest rates in Mexico compared to the US. Traders often borrow in low-interest currencies, such as the USD, and invest in higher-interest ones like the MXN, aiming to profit from the interest rate differential.
Looking back, Mexico has encountered several economic hurdles, from inflation challenges to debt crises, all of which have influenced the Peso’s strength over the years. The USD/MXN exchange rate is a reflection of these dynamics, intertwined with the US’s economic performance. Trading the USD/MXN offers numerous opportunities, but it’s crucial to be aware of potential risks and remain updated on events that might steer the pair’s direction.
He is an expert in financial niche, long-term trading, and weekly technical levels.
The primary field of Igor's research is the application of machine learning in algorithmic trading.
Education: Computer Engineering and Ph.D. in machine learning.
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