The Mexican Peso appreciated over 0.60% against the US Dollar on Thursday after posting losses for the fourth straight day.
Mexican Peso appreciates after Q3 GDP growth of 1% QoQ, surpassing expectations. Peso remains vulnerable to US election results, as Trump’s tariff threats on Mexican auto imports weigh on sentiment. Upcoming Mexican data on Business Confidence and employment, along with US Nonfarm Payrolls and ISM Manufacturing PMI, could influence USD/MXN. The Mexican Peso appreciated over 0.60% against the US Dollar on Thursdayafter posting losses for the fourth straight day.
USD/MXN technical outlook: Mexican Peso recovers as USD/MXN eyes 20.00 The USD/MXN uptrend remains in place, though sellers had stepped in, ahead of the upcoming US election week. Despite this, unless they clear the 20.00 psychological figure, buyers could remain hopeful of higher prices. If USD/MXN tumbles below 20.00, the next support would be the October 24 daily low of 19.74, followed by the 50-day Simple Moving Average at 19.62. Otherwise, if USD/MXN stays above 20.
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