Many countries remain closed for the Christmas holidays and trading volumes are extremely thin. The US will publish one regional economic report, following yesterday’s disappointing durable goods orders. The USDMXN moved to the lower band of its horizontal support area, what impact will today’s sole US economic report have on price action? Today’s fundamental analysis will take a look at the upside potential as well as the downside risk in this currency pair.

The Mexican Economic Activity IGAE will give forex traders the final economic report before Christmas Eve dinner. Economic concerns in Mexico increased, and inflationary pressures eased slightly in December. Despite the concerns, the Mexican Peso was able to strengthen against the US Dollar, a trend which started in December 2018. How much longer can this trend continue? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.