there was a paralel channel between 1995-2023 and MXN was swinging between lines,
It's not easy to break down a 23 years old channel, if there is no solid actions in the future, something beyond of your usual ideas.
your mind may say its a bottom, MXN has to be traded between 19.50 and 21 but its not and it will not.
Reasons;
1- Mexico has the highest currency protection
- If you don't have a company doing export and import, you can not have USD account.
- Money exchanging immediately after swift operations, there is no chance to holding USD overnight in your bank account.
2- With new President Amlo, Mexico's political decisions more stable and less corrupted, since the COVID, foreigners real-estate investments started to increase in Baja California, Yucatan , Oaxaca and especially in Quintana Roo states (Cancun, Tulum)
3- Also big American companies are building new factories at the North of the country where near to US border. For cheaper labor cost and less income taxes.
Elon Musk's Tesla building a giga factory in Monterrey, Nuevo León
4- Chinese companies are throwing money in North side of Mexico for new factories and investments. Less transportation cost + benefiting from Nafta agreement.
It's not easy to break down a 23 years old channel, if there is no solid actions in the future, something beyond of your usual ideas.
your mind may say its a bottom, MXN has to be traded between 19.50 and 21 but its not and it will not.
Reasons;
1- Mexico has the highest currency protection
- If you don't have a company doing export and import, you can not have USD account.
- Money exchanging immediately after swift operations, there is no chance to holding USD overnight in your bank account.
2- With new President Amlo, Mexico's political decisions more stable and less corrupted, since the COVID, foreigners real-estate investments started to increase in Baja California, Yucatan , Oaxaca and especially in Quintana Roo states (Cancun, Tulum)
3- Also big American companies are building new factories at the North of the country where near to US border. For cheaper labor cost and less income taxes.
Elon Musk's Tesla building a giga factory in Monterrey, Nuevo León
4- Chinese companies are throwing money in North side of Mexico for new factories and investments. Less transportation cost + benefiting from Nafta agreement.