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Daily Financial Futures Markets 12-12

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FX Market Update 12-12

Market Briefs

• EUR/USD 0.07%, USD/JPY -0.11%, GBP/USD -0.04%, EUR/GBP 0.11%
• DXY -0.04%, DAX -0.05%, FTSE 0.24%, Brent 1.14%, Gold 0.17%
• Europe’s Unibail-Rodamco bids USD16 bln for Westfield in global shift
• DE ZEW Economic Sentiment Dec, 17.4, 18.0 f’cast, 18.7 prev
• DE ZEW Current Conditions Dec, 89.3, 88.5 f’cast, 88.8 prev
• GB Core CPI YY Nov, 2.7%, 2.7% f’cast, 2.7% prev
• GB CPI YY Nov, 3.1%, 3.0% f’cast, 3.0% prev
• GB RPI YY Nov, 3.9%, 4.0% f’cast, 4.0% prev
• GB RPIX YY Nov, 4.0%, 4.2% prev
• GB PPI Input Prices YY NSA Nov, 7.3%, 6.8% f’cast, 4.6% prev
• GB PPI Output Prices YY NSA Nov, 3.0%, 3.0% f’cast, 2.8% prev
• GB Core Output YY NSA Nov, 2.2%, 2.2% f’cast, 2.15 prev
• FR Non-Farm Payrolls Rev Q3, 0.20%, 0.20% prev
• German negotiated wages rise most since 2014
• Oil tops $65, first time since 2015, on UK pipeline outage
• Gold inches up from near 5-mth low ahead of Fed meeting

Looking Ahead – Economic Data (GMT)

• 12:30 PPI-Final Demand (Nov) (mkt +0.4% m/m; prev +0.4% m/m, +2.8% y/y)
• 12:30 PPI-Final Demand ex-Food and Energy (Nov) (mkt +0.3% m/m; prev +0.4% m/m, +2.4% y/y)
• 12:30 PPI-Final Demand ex-Food, Energy and Trade Services (Nov) (prev +0.2% m/m, +2.3% y/y)
• 12:55 Redbook Same-Store Sales Index (weekly) (prev +3.0% y/y)
• 18:00 Treasury Monthly Budget Statement (Nov) (prev Nov -$136.669 bn)

Looking Ahead – Events, Other Releases (GMT)

• 13:45 FedTrade operation 30-year Fannie Mae / Freddie Mac (max $1.510 bn)
• 14:00 NY Fed co-host a conference – New York
• 17:00 FOMC begins two-day meeting
• 19:00 ECB’s Draghi speaks at a conference – Frankfurt
• N/A ECB Governing council meeting – Frankfurt
• N/A EU General Affairs Council meeting – Brussels

Currency Summaries

EUR/USD

• EUR/USD little moved in Europe as traders sit tight for tomorrow’s FOMC
• German ZEW survey disappointed falling to 17.4 in December from 18.7
• Current conditions improved but EUR surprisingly immune to soft expectations
• U.S. rate expectations and bond yields pumped up ahead FOMC tomorrow
• Maximum 1.1700-20-1.1800-20 range eyed for EUR/USD ahead the event

USD/JPY

• USD/JPY was bought in Asia for the first couple of hours, been neutral since
• Tuesday has seen a modest 113.37-58 range so far. 113.25-69 this week
• 5 year UST-JGB spread widening & looks poised to widen further
• Market in holding pattern ahead of Federal Reserve later this week
• USD/JPY 30/60-day correlations with 5s, 10s UST-JGB spreads are significant
• Tech outlook remains bullish, poised for gains to 113.81 Fibo
• 113.81 — 76.4% of the 114.73 to 110.85 fall

EUR/CHF

• USD/CHF steps lower and makes progress deeper inside daily cloud
• Friday bearish candle signal confirmed by Monday close
• Further confirmation Tuesday and drop to 0.9891: 30DMA 0.9906
• NYC attack add to CHF’s risk-off bid and theme continues into Tues
• Cautious longs taking some profits before Wed’s US CPI and FOMC meet
• 50% of Dec rebound & Tenkan @ 0.9857, Dec 7 low at 0.9856 key props
• EUR/CHF attempts to crack 30DMA support at 1.1650 but finds 1.1653 bids
• Playing long CHF through spoy looks to have more mileage near-term
• Chart: forex http://tmsnrt.rs/2jzonIL

EUR/GBP

• Cable fell to 1.3311 from 1.3380 high after higher than expected UK CPI
• 1.3311 = 2wk low. UK Nov CPI 3.1% vs 3.0% f/c, highest since March 2012
• Carney now has to write a letter of explanation to UK Chancellor Hammond
• BoE MPA & MPC minutes Thursday (BoE raised rates last month)
• EUR/GBP rose to threaten 0.8849 after falling to 0.8807 on above f/c UK CPI
• 0.8849 was Dec 7 high (before Brexit breakthrough). 0.8807 = near 200DMA

USD/CAD

• USD/CAD has eased to a low of 1.2821 ahead of the North American open
• Bids expected near 1.2800: 1.2805 was last Friday’s low
• Higher oil prices are source of support for CAD: WTI above 58 bucks/barrel
• Poloz slated to speak at Canadian Club Toronto later this week (Thursday)

AUD/USD

• AUD/USD shorts squeezed during European am rise to 0.7577 (6-day high)
• Ascent influenced by Unibail-Rodamco/Westfield M&A news
• French company has agreed to buy Westfield for USD 15.7bln
• It would be the biggest takeover of an Australian company on record
• 0.7519 = Asia low. 0.7501 = recent 6mth low (0.7500 = option barrier level)

NZD/USD

• NZD/USD extended north to a 1mth high of 0.6953 during the European am
• Ascent influenced by AUD/USD gains on huge M&A deal news (Westfield)
• AUD/NZD simultaneously rose to threaten 1.0900 during the European am
• 1.0900 was Asia high–before drop to 1.0859 (10-week low)

FX OPTIONS

• Limited spot ranges pre CB meets and impending X-mas lull pressure G10 vols
• Many of these curves are eyeing, or already at 3-year lows
• Event premium for FED, ECB and MPC meetings on the tame side
• Cable vols still have additional event premium over the EU summit
• 1.2Bln 113.50 USD/JPY expiry Wed. 2.3bln each EUR/USD Fri 1.17 & 1.18

COMMENT

Sterling bulls have a couple of straws to cling to

Sterling bulls are licking their wounds after recent selling of the pound on the Brexit breakthrough fact, although they do have a couple of UK politics-related straws to cling to. A YouGov poll for The Times suggests UK PM May’s Conservatives are more popular than the opposition Labour Party for the first time since June’s general election. ITV political editor Robert Peston, meanwhile, says May’s deputy Damian Green will be told on Wednesday that he can keep his job nL3N1OB4V9. If the steer is accurate, it means May can avoid a tricky cabinet reshuffle–which might have had a negative knock-on impact on the PM. If May exits 10 Downing Street before Britain’s scheduled EU exit in March 2019 it could be very destabilising for the pound–so any news which is perceived to lessen that risk should be GBP-supportive. Ladbrokes currently quotes 5/4 for May to be replaced as UK PM in 2018, a fraction longer odds than the 11/10 odds it quoted last Thursday (before the Brexit breakthrough).

CHART FOCUS

GBP/USD bulls might find platform off major 50% Fibo

GBP/USD relapse from December’s 1.3550 high might be coming to an end as bulls will likely regain their footing ahead of 1.3295 — 50% retrace of the 1.3040 to 1.3550 rise. Scope is for an eventual recovery back through the tenkan line, currently at 1.3430, if a daily close is registered above it will likely propel spot back into the 1.3500s. The tenkan and kijun lines are positive aligned, reinforcing the overall upside potential. There is interim support at the kijun line which is at 1.3306. Only a break and daily close below the aforementioned 1.3295 Fibonacci level will shift the overall bias back to the downside. Caution is advised in coming sessions as volatility is likely to persist, catching out both bulls and bears

Futuro del peso mexicano 12-12

 

  • USD/MXN opens NY 19.0780 v 19.0625 Mon cls, drifts up; o/n 19.0925-19.0510
  • Pair shrugs off oil rise, US yields up a tad, yield curve flatter, DXY flat
  • MX flows  light owing to holiday, IRPR: 71% chance of 25bp hike Thur
  • USD/MXN supt 19.0510 Tues low, 19.0102 daily pivot, 18.9831 55-HMA
  • Res 19.0925 Tues high, 19.1227 upper 21-h Bolli, 19.1524 76.4% of Nov dip

Futuro del peso mexicano 12-12

 

 

FX Market Update 11-12

Market Briefs

• EUR/USD 0.27%, USD/JPY -0.08%, GBP/USD -0.09%, EUR/GBP 0.33%
• DXY -0.14%, DAX 0.17%, FTSE 0.66%, Brent 0.17%, Gold 0.26%
• FR Retail Sales SA MM Oct, -1.00%, 0.90% prev
• FR Retail Sales NSA YY Oct, -2.10%, 3.40% prev
• Germany-US yield gap near 8-month high as central bank meetings loom
• Powell faces early test of policy view as tax cuts near approval
• Britain’s May hails new optimism in Brexit talks after deal
• Oil prices slip under shadow of US drilling
• Gold edges up; looming US rate hike weighs on momentum

Looking Ahead – Economic Data (GMT)

• 14:00 JOLTS (Oct) (prev job openings level 6.093 mn)
• 14:00 Employment Trends Index (Nov) (prev 135.6)

Looking Ahead – Events, Other Releases (GMT)

• 15:45 FedTrade operation 30-year Ginnie Mae (max $1.405 bn)

Currency Summaries

EUR/USD

• EUR/USD gets a small boost to 1.1801 in Europe after opening 1.1780
• Asia range 1.1761-1.1791. Europe 1.1775-1.1801. Bullish signs in derivatives
• Euro cross ccy basis swaps reverse lower. 5 yr 5 yr inflation swaps higher
• EUR/USD capped close site EUR 1bln vanilla option expiries @ 1.1800
• One-mth sinks below 6. Nov low 5.3 may encourage eur shorts to fund carry
• Closing break from daily cloud needed to excite. Cloud 1.1716-1.1833

USD/JPY

• Market heavy and is trading near the base of Mon’s 113.33-69 narrow range
• Struggling to make headway above cloud top, now @113.52, after Fri’s break
• If there is break above 113.69, might be limited to 113.81 Fibo
• 113.81 — 76.4% retrace of the 114.73-110.85 fall
• Could see dips to 113.00-20 region, USD 1.5B worth of NY cut expiries
• EBS sales seen last week has extended into Mon’s trading

CHF

• Spot fail (0.9978) ahead of parity and 61.8% of 1.0343-0.9421 drop @ 0.9991
• Profit taking a theme given decent run up from 0.9736 Dec 1 low
• EUR/CHF still pretty much sideways abv day cloud and short to med-term avgs
• Loss of upside momentum ahead of 1.20 former SNB floor
• USD/CHF hanging man/shooing star candle Frid: Set up bearish Monday start

EUR/GBP

• Cable up to 1.3432 then down to 1.3342 in early European trade
• 1.3432 was also Friday’s post-US jobs data high
• More EUR/GBP shorts squeezed during European am climb to 0.8840
• 0.8774 = early Europe low. 0.8806 = Friday’s high after prior short-covering
• IMM gross GBP positions upped by a third in week to Dec 5
• Gross GBP longs & shorts both upped by more than 20k contracts

USD/CAD

• USD/CAD has traded 32 pip range thus far Monday: 1.2832-1.2864
• 1.2880 (Friday’s high) & 1.29 are resistance levels beyond 1.2864
• Large 1.2900 option expiry for 10am ET NY cut, USD 580mn strike

AUD/USD

• 0.7536 = high water-mark for AUD/USD since 0.7500 threatened in Asia
• 0.7500 is an option barrier level (option-related demand ahead)
• AUD/NZD down to 1.0865 (10wk low) after Orr named new RBNZ chief
• 1.0985 was Asia high, before Orr news boosted NZD

NZD/USD

• NZD/USD extended north to test 0.6930 (Nov 29 high) early Europe
• 0.6930 tested as continent digested Orr to be new RBNZ Governor news
• 0.6836 was Asia low, before NZD rose on Orr news
• 0.6945 (Nov 28), 0.6980 & 0.70 are additional resistance levels

FX OPTIONS

• Limited risk premiums priced over this weeks plethora of CB events
• Spot market mostly rangebound, with little expectations of a break-out
• Leaves vols heavy as markets wind down in to X-mas holidays
• EUR/USD and USD/JPY 1-month expiry vols just 0.5 above multi year lows

COMMENT

Bitcoin – Low volume/strong gains for bitcoin futures

CBOE bitcoin futures trading helps to open speculation to a wider range of players while also proving the ability to lower the frictions in shorting the digital currency. So far the shorts have stayed away. We already have a very volatile and illiquid underlying market and this is now joined by a futures contract that is equally volatile and illiquid. On the latter the front month bitcoin future saw trading volume of 2,700 contracts with Feb (12 contracts) and Mar (47 contracts) having limited volumes.

In terms of price action, the front month contract opened at $15,400 and after a brief dip went all the way to $18,140. While we talk of bitcoin it is important to realise that in addition to the daily volatility, its price on different exchanges and the futures contracts from CBOE and CME are cash settled and cannot settle bitcoin. The availability of futures contracts thus allows increased speculation as opposed to the use of bitcoin for transactions.

These are early days and speculative interest remains strong with more and more mom/pop type of investors still looking to get a slice of the action. The CME will make its offering next week on Dec 17 and there is much focus on how long before a bitcoin ETF is introduced. The spread between the Jan and the Feb/Mar contracts is around $1,500 with the premium of the Jan contract over spot at $1,200. Volumes might be low initially but most will want to see how the futures trade over the first few days before dipping their toes into the waters.

CHART FOCUS

EUR/USD bulls tighten grip and aim for cloud top

EUR/USD scope is for eventual gains for another test of November’s 1.1961 peak, which is just below 1.1965 — 76.4% retrace of the 1.2092 to 1.1553 (September to November) fall. Bulls are in control after a dragonfly doji formed on Friday’s candlestick line, its long tail signaling a rejection of the downside. Tenkan and kijun lines are positively aligned, further reinforcing the upside bias. There is interim supply at the daily cloud top now at 1.1833, which might disrupt gains, but this is likely to be temporary. Support has swelled ahead of 1.1709 — 61.8% retrace of the 1.1553 to 1.1961 November gain. The market failed to register a daily close below 1.1757 — 50% of the same 1.1553 to 1.1961 rise — despite the break on Friday. Only a daily close below the 1.1757 Fibonacci level will weaken the scope for a break of the cloud top

Futuro del peso mexicano 11-12

USD/MXN opens NY 18.9475 v 18.9140 Fri cls, dips a tad; o/n 18.9705-18.9055

DXY down 0.14%, UST yields down as well aid MXN gains

Fed (Wed) & Banxico (Thurs) meet, markets expects 25bp hikes from both

USD/MXN support 18.9055 Mon low, 18.8774 rising 55-DMA, 18,7420 10-DMA

Res 18.9464 10-HMA, 18.9705 Mon high, 18.9935 Dec 7 high

Futuro del peso mexicano 11-12

FX Market Update 8-12

Market Briefs

• EUR/USD -0.25%, USD/JPY 0.41%, GBP/USD -0.08%, EUR/GBP -0.19%
• DXY 0.22%, DAX 1.33%, FTSE 0.25%, Brent 0.61%, Gold -0.03%
• DE Exports MM SA Oct, -0.40%, 1.00% f’cast, -0.40% prev
• DE Imports MM SA Oct, 1.8%, 1.1% f’cast, -1.0% prev
• DE Trade Balance, EUR, SA Oct, 19.9B, 21.8B f’cast, 21.8B prev
• FR Industrial Output MM Oct, 1.9%, -0.1% f’cast, 0.6% prev
• FR Budget Balance Oct, -77.20B, -76.30B prev
• GB Industrial Output YY Oct, 3.6%, 3.5% f’cast, 2.5% prev
• GB Manufacturing Output MM Oct, 0.1%, 0.1% f’cast, 0.7% prev
• GB Manufacturing Output YY Oct, 3.9%, 3.9% f’cast, 2.7% prev
• GB Construction O/P Vol YY Oct, -0.2%, 1.9% f’cast, 1.1% prev
• GB Goods Trade Balance GBP Oct, -10.78B, -11.45B f’cast, -11.25B prev
• GB Goods Trade Bal, Non-EU Oct, -2.38B, -3.30B f’cast, -2.98B prev
• EU’s Juncker says brexit talks to enter second phase
• EU’s Juncker says sure EU27 will open next phase of talks
• Japan’s 3Q GDP blows past initial estimates as business investment surges
• China exports growth hits 8-mth high, imports defy pollution curbs
• Decade in the making: post-crisis banking rules finally signed
• Oil stable as strong Chinese demand counters rising dollar
• Gold rises on bargain hunting after hitting over 4-mth low

Looking Ahead – Economic Data (GMT)

• 12:30 US Nonfarm Payrolls (Nov) (mkt +200k, prev +261k)
• 12:30 US Private Nonfarm Payrolls (Nov) (mkt +190k, prev +252k)
• 12:30 US Manufacturing Payrolls (Nov) (mkt +17k, prev +24k)
• 12:30 US Unemployment Rate (Nov) (mkt 4.1%, prev 4.1%)
• 12:30 US Average Hourly Earnings (Nov) (mkt +0.3% m/m, prev 0.0% m/m)
• 12:30 US Workweek Hours (Nov) (mkt 34.4, prev 34.4)
• 13:15 CA House Starts, Annualized (Nov) (215.0k f’cast, 222.8k prev)
• 13:30 CA Capacity Utilization (Q3) (85.0% f’cast, 85.0% prev)
• 14:00 US U of Michigan Consumer Sentiment Index (prelim Dec) (mkt 99.0, prev 97.8)
• 14:00 US U of Michigan Current Conditions Index (prelim Dec) (mkt 115.5, prev 113.6)
• 14:00 US U of Michigan Expectations Index (prelim Dec) (mkt 90.6, prev 87.6)
• 14:00 US Wholesale Inventories (Oct) (mkt -0.4% m/m, prev +0.3% m/m)
• 14:00 US Wholesale Sales (Oct) (mkt +0.8% m/m, prev +1.3% m/m)
• 15:15 US New York Fed Staff Nowcast for Real GDP growth (Q4) (prev 3.93% q/q AR)
• 17:00 US Baker-Hughes Weekly Oil Rig Count (prev 749, +2 w/w, +272 y/y)
• N/A US Atlanta Fed GDPNow (Q4) (prev +3.2% q/q AR)

Looking Ahead – Events, Other Releases (GMT)

• No Fed or Treasury officials scheduled to speak

Currency Summaries

EUR/USD

• Heavy selling of EUR/GBP after EU/UK deal influencing EUR/USD today
• Sellers also encouraged by rates. UST/Bund 10 yr spread widest since mid-Apr
• Huge number option expiries higher. EUR 5.3bln 1.1800-50. EUR 850mln 1.1750
• U.S. jobs data centre stage but average earnings may prove more influential
• Impact earnings data enhanced by weak labour costs data this week
• Support 1.1700-20. Resistance 1.1800-20. Close outside targets 1.1550/1.1950

USD/JPY

• Risk rebound has seen USD/JPY remain buoyant, up from 113.07 to 113.59
• US Congress debt limit extension to Dec 22 helped with risk
• Spot has broken through the daily cloud top at 113.38
• Bulls are slowing chewing their way through offers above 113.50
• Scope grows for gains to the 113.81 Fibo — 76.4% of 114.73-110.85 fall

EUR/CHF

• USD/CHF continues to gain, above 76.4% Nov-Dec drop at 0.9967 to 0.9971
• Highest since Nov 14. Nov 13 0.9987 peak is the resistance just above
• Pulling further away fm the daily cloud, fuels expectations of a parity test
• 76.4% break targets above parity and a full retrace to the Nov 1 1.0038 peak
• Nov 1 1.0038 practically a dble top with Nov 27 1.0039 high = strong resist
• Solid NFP/AHE reports Fri would also help put 1.00+ within reach again
• EUR/CHF holds close to it’s 1.1737 post-SNB floor removal peak fm Dec 1
• 1.1719 to 1.1690 Friday in Europe but bid returns ahead of NY

EUR/GBP

• EUR/GBP down to six-month low of 0.8690 on Brexit breakthrough
• Pound up to 18-month highs vs JPY & CHF. Cable up to 1.3521
• 1.3521 = three-day high (1.3320 was Thursday’s low)
• Stops tipped above 1.3550 (recent two-month high, Dec 1)
• 0.8734-47 is now a EUR/GBP resistance window
• Window encompasses July, Sept & Nov lows

USD/CAD

• USD/CAD revisited 1.2868 during the European am after rising from 1.2849
• 1.2868 was Thursday’s high. Offers expected near 1.29 if ascent extends
• USD/CAD was trading just under 1.29 into strong Canada jobs data Dec 1
• Pair was trading sub-1.27 into BoC’s dovish hold Wednesday

AUD/USD

• 0.7518 = AUD/USD high since fresh six-month low of 0.7501 in Asia
• Bids are tipped just under 0.7500 (mooted option barrier level)
• 0.7506 was Thursday’s low, after Dalian iron ore fell 7.5%
• Dalian iron ore closed down 1.2% Friday having been -4.4% at one stage

NZD/USD

• NZD/USD topped out a pip shy of 0.6851 after firming from 0.6823
• 0.6851 was rally high from Thursday’s European session low of 0.6829
• 0.6823 = 1wk low in Asia. 0.6817 was Dec 1 low. 0.6781 = Nov low

FX OPTIONS

• GBP vols hammered as risk premiums pared on Brexit deal, 1mth vol off over 1.0
• EUR/USD vols unfazed by weaker spot, but 3mth puts bid over Italy election
• USD/JPY still well contained so no rush for vols or topside cover
• AUD/USD vols supported as 0.7500 barrier tested
• Short dated vols underpinned over NFP and CB risk, but premiums rather tame

COMMENT

Watching Schatz as 3m EUR X-ccy basis widens further

The 3m EUR cross currency basis swap (x-ccy) has moved further into negative territory, reflecting dollar shortage/demand ahead of year-end as well as constraints on arbitrage as a result of balance sheet capacity. At -76bps, the EUR x-ccy basis has moved sharply from -54 last week, but more importantly it is acting like it is already year-end. While there was a pre-year end move last year, the spike did not happen until we had got closer to the last week of the year. The pressures this time round seem more intense and suggest a likelihood that lower liquidity in the short dated forwards will spill over into USD demand in the spot market.

Something that will be watched is whether German bunds will experience similar sort of year-end related scarcity issues that saw spreads widen and sharply negative repo rates as last year. There is no early indication of such scarcity, but this will continue to be watched ahead of year-end. However, over the course of the last 2-weeks the Schatz yield has been moving sharply toward the bottom of its recent trading range. A break of yield support at -0.766% on the Schatz could provide early signs that scarcity is becoming an issue.
SCHATX8122017 :

CHART FOCUS

USD/CHF bulls face little resistance as parity eyed

Parity is within reach for USD/CHF bulls as the pair continues to gain to new short term daily highs. On Friday spot is seen testing 0.9970, just above the last Fibo of the November to December fall at 0.9967. A sustained break above the 76.4% Fibo level puts the 1.0038 November 1 peak in sight. The 1.0038 high is practically a double top with the October 27 1.0039 peak and reinforces resistance at that level. Friday’s new top is the highest USD/CHF has traded since November 14 when 0.9987 was the daily high. The rebound from 0.9736 on December 1 has cleared the daily cloud and the pull further away from its top at 0.9897 is fuelling expectations of further gains. The upper 30-Day Bollinger at 1.0053 is among bullish objectives following Thursday’s break and close above the 30-DMA at 0.9910. The average lies close to the aforementioned daily cloud top and only a break back below those supports would deter the bulls

Futuro del peso mexicano 8-12

  • USD/MXN opens NY 18.9275 v 18.971 Thur cls, holds nearby; o/n 18.972-18.9105
  • Pair shrugs of higher DXY ahead of US NFP, Rising oil aids MXN lift
  • Like UK, trade remains dominant theme; negative NAFTA news will weigh on MXN
  • USD/MXN Supt 18.9105 Fri low, 18.8859 55-HMA, 18.8250 21-DMA
  • Res 18.972 Fri high, 19.0178 61.8% of 19.37-18.448 dip 19.1130 Nov 17 high
  • MXN 1-wk vol higher, captures US and MX c.bank meetings, flows light pre-NFP
 Futuro del peso mexicano 8-12

Futuro del peso mexicano 7-12

 

  • USD/MXN opens NY 18.92 v 18.868 Wed cls, drifts higher; o/n 18.945-18.8635
  • DXY +0.15%, LatAm losses more severe MXN off 0.35%, BRL off 1.5%
  • MX inflation, NAFTA & election uncertainty, higher US rates weigh on MXN
  • USD/MXN res 18.9450 Thurs high, 19.00 big fig res, 19.0230 2nd pvt res
  • Support 18,9042 10-HMA, 18.8635 Thurs low, 18.8435 daily pivot
  • MX 1-wk/mos vol rising, 1-wk captures US and MX c.bank meetings

Futuro del peso mexicano 7-12