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USDMXN question about price movement after 'Good' USD news
Aug 12, 2020 at 13:00
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4 Replies
Členem od Aug 14, 2014
4 příspěvků
Aug 12, 2020 at 13:00
If there was 'Good' news for USD then why would the USDMXN price go downward? If I understood correctly, good news for USD should have caused a movement up (meaning more Pesos required for the Dollar). All of the 8:30 news was better than expected for the USD this morning. It just doesn't make logical sense to me that the price would move in favor of the Peso with 'Good' news for the Dollar.
If anyone can help me understand this better with any explanation, I'd really appreciate it. Thank you ahead of time!
If anyone can help me understand this better with any explanation, I'd really appreciate it. Thank you ahead of time!
Členem od Aug 14, 2014
4 příspěvků
Aug 12, 2020 at 14:39
Well it seems the move up eventually happened / was delayed, but I guess I have to say I'm still curious why the initial price movement (*at the time of the 'Good' USD news announcement) was a hard move downward (*seemingly in favor of the Peso) and then 30 to 45 minutes later the logical price move upward finally occurred? Was that an example of a 'bear trap' as they say, to trick retail traders before the large move up in price?
Again any insight into the WHY of this happening would be very much appreciated!
Again any insight into the WHY of this happening would be very much appreciated!
forex_trader_1151190
Členem od Feb 28, 2020
18 příspěvků
Aug 13, 2020 at 04:13
MXN strength is stronger than USD strength, hence goes down regardless of news.
Členem od Jul 23, 2020
816 příspěvků
Oct 06, 2021 at 06:23
It depends on which asset has more strength price will go in that direction.
Členem od Jul 23, 2020
696 příspěvků
Oct 06, 2021 at 12:40
News trading is quite tough in my opinion.
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