Liquidity Term Structure

USD/MXN

Hourly liquidity profile

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• In the recent market conditions, the average liquidity for USD/MXN is highest around London close and New York open. This is similar to pre-COVID market conditions.
• Liquidity in USD/MXN drops off sharply between 21:00 and 22:00 GMT (going into New York close) in the recent market conditions, relative to pre-COVID market conditions.
• The difference in the liquidity scores could have been affected by a significant increase in market impact between 1:00 and 2:00 GMT and a large drop in percent gross volume between 14:00 and 15:00 GMT. The model factors are explained on the methodology page.
• There was a sustained and significant change in market impact between 21:00 and 6:00 GMT.
• In the recent period, the liquidity has generally improved, relative to the COVID peak period.