Mexican Pesos remains firm against the Greenback during the North American session on Thursday amid an improvement in risk appetite.
Mexican Peso consolidates as Mexico’s headline inflation rises slightly in early October. IMF projects Mexico’s GDP growth at 1.5% in 2024, compared to a stronger 2.8% forecast for the US economy. Strong US jobs data and improving PMI figures support the US Dollar. Mexico’s inflation edged slightly up in the first 15 days of October, while US jobs data was solid, underpinning the US Dollar. At the time of writing, the USD/MXN trades at 19.82, virtually unchanged.
Momentum shows that sellers have stepped in with the Relative Strength Index aiming lower, capping the exotic’s pair advance. If buyers clear the 20.00 figure, they could test the weekly peak at 20.09. On further strength, the USD/MXN could aim toward the year-to-date high at 20.22, ahead of key psychological levels of 20.50 and 21.00. On the other hand, if sellers reclaim the October 18 low at 19.64, this could pave the way for a challenge to 19.50.
Banxico Fundamental Analysis Technical Analysis SEO
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 slips on geopolitical risks and US Dollar strengthThe Mexican Peso registers losses in early trading against the Greenback on Thursday amid increasing geopolitical risks as President Joe Biden is discussing with Israel how to attack Iranian oil facilities.
Read more »
Mexican Peso falls as safe-haven flows boost US DollarThe Mexican Peso begins the week on the back foot and falls some 0.50% against the Greenback amid a risk-on impulse that keeps the US Dollar trading near seven-week highs.
Read more »
Mexican Peso falls amid strong US Dollar on high US yieldsThe Mexican Peso depreciates against the US Dollar as high US Treasury yields underpin the Greenback on Tuesday.
Read more »
Mexican Peso rallies as Fed rate cut bets weaken the US DollarThe Mexican Peso registers gains against the Greenback for the second consecutive day after hitting a low of 19.61 in early trading on Thursday.
Read more »
Mexican Peso erases earlier gains amid a weak US DollarThe Mexican Peso remained firm against the US Dollar on Friday yet erased earlier gains, which saw the emerging market currency appreciate over 0.90%.
Read more »
Mexican Peso rises as US consumer turns pessimistic, Banxico cut eyedThe Mexican Peso advanced against the US Dollar during the North American session after the Conference Board (CB) revealed that Consumer Confidence in the United States (US) deteriorated.
Read more »