The Mexican Peso (MXN) is drifting lower from the key 20.00 area weighed by a stronger US Dollar (USD).
The US Dollar picks up supported by a sourer market sentiment ahead of the US CPI release. Soft Mecican CPI data has increased hopes of a 25 bps rate cut next week and is weighing on the MXN. Technically, USD/MXN’s double top at 20.80 suggests the possibility of a deeper correction. The Mexican Peso is drifting lower from the key 20.00 area weighed by a stronger US Dollar .
1% in October, which cemented hopes of a Federal Reserve cut in December, and kept the US Dollar from rallying further. Futures markets are now pricing an 85% chance that the Fed will cut rates by 25 basis points in December, up from below 70% last week, according to data from the CME Group’s Fed Watch tool. Mexican Peso technical outlook: USD/MXN recovery remains capped below 20.27 The USD/MXN has found support at the 20.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mexican Peso holds firm as US CPI shows disinflation stallingThe Mexican Peso stayed firm against the US Dollar during the North American session on Wednesday as investors digested the latest US inflation report.
Read more »
Mexican Peso nears 20.00 level against US Dollar ahead of inflation dataThe USD/MXN resumed its downtrend as the effect of the release of strong US labour figures waned.
Read more »
Mexican Peso slides amid strong US Dollar on Trump tariff fearsThe Mexican Peso depreciates at the beginning of the week against the US Dollar as the latter refreshes four-month highs, according to the US Dollar Index (DXY).
Read more »
Mexican Peso rises on Trump’s softened trade stance, US Dollar declineThe Mexican Peso appreciated against the US Dollar during the North American session as the Greenback extended its downfall and is about to hit its most significant weekly loss in three months.
Read more »
Mexican Peso strengthens at start of week on weak US DollarThe Mexican Peso appreciated against the US Dollar at the beginning of the week, gaining 0.39% during the North American session.
Read more »
Mexican Peso recovers amid broad US Dollar weaknessThe Mexican Peso recovered some ground after depreciating more than 2% since Monday, following Trump’s remarks that he would impose tariffs on Mexico.
Read more »