Mexican Peso Strengthens Against USD and Euro, CFTC Data Reveals
Tuesday, 9 July 2024, 09:48
Mexican Peso Surges, USD and EUR Bearish
The latest CFTC report, as analyzed by Rabobank, underscores a notable trend in the currency markets:
Key Points:
- USD Net Long Positions Decline: Traders have reduced their net long positions in the US Dollar for two consecutive weeks.
- EUR also Weak: The Euro is also depicted as bearish according to the CFTC data.
- Bullish Momentum for MXN: The Mexican Peso, on the other hand, shows strength against its counterparts, indicating a positive trend for the currency.
Conclusion: The CFTC report reveals a shifting sentiment among traders, with the Mexican Peso gaining momentum while the USD and EUR face bearish pressures.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.