The Mexican Peso erased some of its losses against the US Dollar, gains some 0.30% after US Retail Sales data was better than expected.
Mexican Peso remains soft as US Retail Sales, Industrial Production beat estimates. Mexico’s Q2 Aggregate Demand and Private Spending data will be released Wednesday, while the Fed’s rate decision looms. US Dollar Index climbs 0.20% to 100.92, as traders maintain 61% odds for a 50 bps Fed rate cut. Despite that, expectations that the Federal Reserve will cut rates by 50 basis points remained unchanged as the Fed begins its two-day meeting. The USD/MXN trades at 19.
15, key support levels emerge like the August 23 daily low of 19.02, ahead of the 50-day Simple Moving Average at 18.99. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.
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