Trade USDMXN

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Thinking of trading USDMXN?

    1. The Mexican currency previously served as a model for other important currencies such as the Hong Kong dollar, the Straits dollar, the Japanese yen and the Chinese yuan. It is the 11th most traded currency globally and due to that it will never have a liquidity shortage. 2. USD/MXN is not as popular as some of the major pairs, it is still a cross pairing worth trading. It offers a safe level of liquidity and access to the South American market. Traders often find this pair attractive as its volatility tends to offer great intraday trading chances.
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How would you like to trade USDMXN?

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We should probably mention that the USD and the MXN share a common history, as both currencies are originated from Spanish dollars before the first US monetary system was organised in 1792 (The U.S. Coinage Act). In the mid 1900 the first banknotes of the USD were introduced whilst the Mexican Peso's current version was introduced in 1993, after several years of inflation, devaluation and capital flight following the oil crisis of the late 1970.The Mexican peso is currently the 10th most traded currency in the world, the third most traded currency from America (after the United States dollar and Canadian dollar), and the most traded currency from Latin America. The USD is one of the world's reserve currencies with 62% of the global foreign exchange reserves denominated in USD. It dates back to 1792, when the United States Congress created the US dollar as the country's currency.The Mexican peso is highly correlated to the price of oil (as it is the 9th biggest producer of oil), together with other currencies that are based on their commodity trade.

1. The MXN has undergone a gradual weakening over the years and unfortunately, that bearish trend has accelerated in late 2016, due to threats to US-Mexico trade restrictions by the Donald Trump administration. If this pressure was to keep increasing, the USD/MXN could experience a long-term price dip. 2. As any commodity-currency, its price is dependent on energy fluctuations. Traders should be aware of any market data releases such as natural gas and crude oil. US Oil Inventory report, OPEC meetings and data releases from the Banco de Mexico will pay an important role in the pair's performance.

Risk Disclaimer Fondex provides this content/feature as no more than information. In particular, no advice is intended to be provided or to be relied on as provided nor endorsed by Fondex, nor any solicitation or incentive provided to subscribe for or sell or purchase any financial instrument or to join and/or terminate any of the trading strategies. The Investor is solely responsible for the choice of the signal provider, choice of trading strategy, the choice whether to sell or purchase any financial instrument on his/her trading account and monitoring of the trading activities. All trading or investments you make must be pursuant to your own unprompted and informed self-directed position. Please keep in mind that past performance is no guarantee of future results.

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