Pressure for the Mexican Peso its not over, until the US elections, the Mexican government attacking debt, and the FED raising rates at December meeting doesn't look going down until DECEMBER-JANUARY 2017 maybe to 18.7000 but for now this is a quick trade.
do you think this reach 19.90 and then drop? or up?
JavierSoto
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I actually waiting for a pullback maybe to 18.7000 but not until the risk of the US elections its clear a win for Hillary its must need for a pullback, the FED interest rate decision (Maybe December) also its keeping us for the pullback, oil prices need to stabilize a little to bring support, Mexico Government is right now looking carefully at the inflation rate (a more strong dollar is bad for inflation because the imports of US products, Gas, Technology, etc.), Banco de Mexico (Mexico Central Bank) its likely to intervine with an aggressive rate hike if US FED do so.. and even if the US FED doesn't. So i see the next two months are long .. but again i'm waiting the pullback not to the 18.000 - 19.000 past trend channel but surely to 18.700 - 19.500.
This month is the release of an inflationary data from Mexico, we need to wait and see how it react to the strong dollar and if it represent a risk to the inflation rate set by the Central Bank