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Where is the peso headed?


Kyle
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Got almost to 20, rallied back to just under 19 and closed Friday at 19.01 (closing fix as posted in the WSJ). It seems to sniff out a Clinton lead and prone to rise. Weakness in the US equity market causes it to weaken. Two opposing trends. Considering that this time a year ago it was under 17, anything in this general area is a gift. 

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Doesn't anyone negotiate anymore?

 

Go to your bank or investment institution and talk with a manager who can make decisions.  Tell them something like, "I want to move $35,000 US ( however much) to my account here but I don't want to miss an advantageous jump in the exchange rate.  When you can give me 19.75 (or whatever but be reasonable) let me know and I will execute the move that day."

 

You can bet that manager has someone they can call who will be able to tell them to give you a better rate.  You have to ask and you have to tell them what you will do and then follow thru on it.

 

 

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As an international banker for over 30 years, there are numerous things that impact the currecy markets.  No one has a crystal ball, otherwise I would agree with TelsZ4 that we would all be rich if we knew what was going to happen. The current rates have been very good.  Anything above 18 is excellent considering where rates were years back.  To request a bank to monitor rates for a future currency buy or sell is not going to happen unless the amount is appreciable since any profit the bank makes on a spead is directly related to the value of the transaction. Anything less than a million US dollars wouldn't warrant the extra work involved since there would be not much additional profit with a movement of 25-50 basis points. 

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By TJ Marta
(Bloomberg) -- USD/MXN possibly bottoming on 120-min chart,
suggesting potential for short-term rally according to
stochastics technical study, Bloomberg strategist TJ Marta
writes.

* USD/MXN stochastics study shows current bearish signal is
stale and likely to reverse today
* Signal is 30 periods old, greater than the 22 period
average during past 2 months
* Has been oversold for 44 periods, the longest
stretch since late-Sept.
* Pair has been stable overnight, holding at roughly 18.60
* Technical Support 18.5662 overnight low
* Resistance 18.6897 overnight high; 19.0526 Oct. 17 high
* NOTE: Stochastic study has successfully indicated
directional moves 15 of 25 times since Aug. 19; moves
consistent with signals have been about 9% greater, on avg.,
than the moves inconsistent with signals
* NOTE: Avg. time between signals is 22 2-hr. periods, roughly
44 hours

NOTE: TJ Marta is an FX strategist who writes for Bloomberg. The
observations he makes are his own and are not intened as
investment advice

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