Futuro del peso mexicano 16-11

  • USD/MXN opens NorAm 20.4705 holds nearby; o/n range 20.5320-20.1500
  • Global bond yields resume rise, oil (CLc1) offered as well aid MXN weakness
  • Trump angst diminished; MXN traders eye Banxico Thurs, Rtrs f/c 50bp hike
  • USD/MXN sup daily pvt 20.4102, 21-HMA 20.3197, 38.2% Fib 20.1592
  • Res 20.5491 55-HMA, 20.6315/30 23.6% Fib of post elex rise/hrly cloud base
  • MXN ST vol rising ahead of CB meet
  • – USD continues to hold onto recent gains. Markets now forecast over 90% chance that the Fed will raise rates in Dec. This is up from approx. 75% before the US elections.
    – EUR/USD little changed and just above 2016 lows at 1.0710; USD/JPY trading above 109.50 and USD/CHF holding above parity
    – Moves in the JGB market were being closely watched. Japanese 10-year yield crossed above 0% recently (levels not seen since Feb) with some expectation building about whether the BoJ might purchase more bonds to bring the yield lower towards target

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