- USD/MXN opens NY 17.6740, dips slightly; up from Friday’s cls 17.6250
- Upbeat Draghi comments on glbl econ Fri (J-Hole) weigh on USD broadly
- Oil lower, NAFTA rd 2 Fri, upcoming US holiday may see MXN longs lighten
- USD/MXN supt 17.62 Mon low, 17.5831 lwr 21-h Bolli, 17.45 Jul 19/’17 low
- Res 17.7030 10-DMA, 17.7256 200-HMA, 17.8172 dn trendline (Aug 11-18 highs)
- USD/MXN 1-wk/mos vol turns lower;
The dollar is mostly softer against the majors as the new week gets under way. The Aussie and Swissie are outperforming, while the Scandies and Kiwi are underperforming. EM currencies are mixed. KRW and CNY are outperforming, while TRY and MXN are underperforming. MSCI Asia Pacific was up 0.1%, with the Nikkei flat. MSCI EM is up 0.1%, with the Shanghai Composite rising 0.9%. Euro Stoxx 600 is down 0.4% near midday, while S&P futures are pointing to a lower open. The 10-year US yield is flat at 2.17%. Commodity prices are mixed, with Brent oil down 1%, copper up 1.3%, and gold up 0.5%.