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USDMXN question about price movement after 'Good' USD news

Aug 12 2020 at 13:00
2 príspevkov
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!

Aug 12 2020 at 14:39
2 príspevkov
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!

PCube Singapore
Aug 13 2020 at 04:13
17 príspevkov
MXN strength is stronger than USD strength, hence goes down regardless of news.

Oct 06 at 06:23
640 príspevkov
It depends on which asset has more strength price will go in that direction.

Oct 06 at 12:40
658 príspevkov
News trading is quite tough in my opinion.

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