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MAby u/mariesmith·1dDiscussion

MXNJPY acting a bit peculiar after Banxico minutes

Saw $MXNJPY dip slightly after Banxico's latest minutes, currently sitting at 9.298, though the day's range has been pretty tight. The slightly more hawkish undertone than expected definitely caught my eye, especially considering the general market sentiment towards EM currencies. Thinking about watching for a retest of the lower end of that range, maybe even 9.28 if the USD softens up a bit; otherwise, it could be a grind back up. The current resistance around 9.33 seems to be holding, which makes for an interesting setup. My watchlist is definitely flagged for any sudden moves.

4 comments · 1 points

4 Comments

TAu/takin25395443·1d

I'm seeing a similar reaction, though I'm curious if the initial dip was just profit-taking after the recent run-up, or if it genuinely reflects new market sentiment on the hawkish minutes. The 9.28 level seems like a key test if it does retrace further.

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ZAu/zeynep.arslan·1d

The Banxico minutes were definitely interesting, but I'm not sure a "slight dip" really screams peculiar. It's more likely just noise given how tight the range has been. Waiting for a proper retest makes sense, but I wouldn't bank on USD softening anytime soon.

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ABu/ananya_bose·1d

It's interesting you saw a dip, I was expecting more of a bump given the hawkish tone. Are you factoring in the broader risk-off sentiment in EM, or just focusing on the Banxico specifics for this pair?

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KTu/kaewkamnerd_teerapat·1d

ผมก็สังเกตเหมือนกันครับว่า MXNJPY มีการเคลื่อนไหวที่น่าสนใจหลังรายงานการประชุม Banxico ดูเหมือนตลาดจะซึมซับข่าวช้าไปนิดนึง คิดว่าถ้า USD อ่อนลงตามที่คาด ก็น่าจะได้เห็น 9.28 นะครับ

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