The Mexican Peso (MXN) tumbled to a three-day low against the US Dollar (USD) as traders digested economic data released in the United States (US) and as financial markets prepared for US President-elect Donald Trump’s inauguration next week.
Mexican Peso weakens amid US economic data releases and upcoming political events. Mexico's Gross Fixed Investment shows a slight October improvement, still below past highs. Fed Governor Waller suggests more aggressive rate cuts may depend on future economic data. The Mexican Peso tumbled to a three-day low against the US Dollar as traders digested economic data released in the United States and as financial markets prepared for US President-elect Donald Trump’s inauguration next week.
An additional upside is seen, once those levels are cleared, with the next key resistance levels emerging at 21.46, the March 8, 2022 peak, followed by 21.50 and the 22.00 psychological level. On the other hand, if USD/MXN clears the 50-day Simple Moving Average at 20.34, this will expose the 100-day SMA at 20.00, followed by the October 18 swing low of 19.64. 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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