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DOLLAR opening over $940

befx | 2023-10-24 15:21

Abstract：The day begins with no significant movement in the peso dollar, but it undergoes a brief fluctuation, trading at a stable rate of 944.45. Meanwhile, the value of copper shows a slight decline of 0.25% on the London Metal Exchange, with its price settling at 3.55 per pound.

The day begins with no significant movement in the peso dollar, but it undergoes a brief fluctuation, trading at a stable rate of 944.45. Meanwhile, the value of copper shows a slight decline of 0.25% on the London Metal Exchange, with its price settling at 3.55 per pound.

At the same time, the dollar index is trading at 105.9, seeking to try to break the resistance to go in search of 106.20. The dollar globally has had a hard time consolidating new highs, as we have seen false breakouts in emerging currencies. It is possible that with tomorrow's manufacturing PMI data, if we see data above what the market expected, that we will see a break in the dollar index and in turn the peso dollar, positioning itself above 950 to go in search of the 960.

On the other hand, in the central bank's latest publication, we see that the foreign position decreases again and is close to 6 billion, slightly easing the pressure on our peso.

For the range of the day, if copper continues to fall we could see the currency breaking 950 again. We have seen strong bearish pressure at these levels, so it would not be strange to see corrections to 935-940.

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