USD/MXN: Sheinbaum Era Begins
Mexico makes history today as Claudia Sheinbaum becomes the country’s first female president. With nearly 35.5 million votes—representing close to 60% of the electorate—Sheinbaum secured more votes than any president in Mexican history.
Since the election, the Mexican peso has declined by around 13%. Recent price action has moved sideways as markets assess Sheinbaum's economic policies.
However, traders anticipating a sharper selloff in USD/MXN may need to wait, as the pair potentially remains upwardly biased with the 20 Day and 50 Day EMA outlining possibly areas of support.
Since the election, the Mexican peso has declined by around 13%. Recent price action has moved sideways as markets assess Sheinbaum's economic policies.
However, traders anticipating a sharper selloff in USD/MXN may need to wait, as the pair potentially remains upwardly biased with the 20 Day and 50 Day EMA outlining possibly areas of support.
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