Short-term impacts of CPI and NFP on USD/MXN
It's always interesting to see how the market digests key economic data. The recent CPI and NFP figures, while generally within expectations, still created some short-term volatility, especially in pairs like $USDMXN. We saw it bounce between 17.29 and 17.32 yesterday. For me, it reinforces the idea that even anticipated releases can provide enough impetus for quick moves. It's not necessarily about the surprise, but how those numbers confirm or challenge the broader narrative. While some might focus on the immediate directional bias, I tend to look at how price reacts around established levels after these releases. Do they hold? Do they break convincingly? That often tells a more sustainable story than the initial knee-jerk reaction. What are others seeing in their pairs regarding these reports?
Indeed, those micro-moves are where the scalpers earn their daily bread, or at least enough for a decent coffee. The rest of us just watch it happen, marveling at the speed.