The Mexican Peso loses steam against the US Dollar on Tuesday after refreshing almost nine-year highs of 16.26.
Mexican Peso rally pauses, influenced by mixed inflation data and Banxico rate cut. Core CPI deceleration backs Banxico move, yet annual inflation worries linger. USD/MXN's next moves are eyed with upcoming US inflation data focusing traders on 16.00, 17.00 levels. Mexico ’s inflation data was mixed, though the emerging market currency tumbled more than 0.5%, as price action seems overextended. The USD/MXN trades at 16.40.
Technical analysis: Mexican Peso loses momentum as USD/MXN jumps from 2015 lows The USD/MXN fell to a new nine-year low at around 16.25, with traders posing to drive the exchange rate below that level toward the 16.00 figure. Even though the Relative Strength Index turned oversold, sellers are gaining momentum. Therefore, the next support would be the psychological 16.00 figure.
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 rises against US Dollar despite Banxico rate cut, mixed economic signalsThe Mexican Peso capitalized on broad US Dollar weakness on Monday, climbing more than 0.1% in the mid-North American session.
Read more »
Mexican Peso steadies against US Dollar amid mixed data, Fed commentaryThe Mexican Peso prints minuscule gains against the US Dollar on Thursday after the release of economic data from Mexico and the United States (US).
Read more »
Mexican Peso benefits from softer US Dollar after Services PMI missThe Mexican Peso seesaws between tepid losses and gains against the US Dollar during the European session on Thursday.
Read more »
Mexican Peso reaches eight-year high against US Dollar unfazed by Banxico’s rate cutThe Mexican Peso rallied to a new eight-year high against the US Dollar with the USD/MXN pair breaching last year’s low of 16.62, extending its losses to the 16.50s.
Read more »
Mexican Peso weakens against US Dollar amid strong US PMI dataThe Mexican Peso begins the week on a lower note versus the US Dollar, tumbling 0.57% after strong economic data from the United States (US) that could prevent the Federal Reserve (Fed) from cutting borrowing costs.
Read more »
Mexican Peso gains against US Dollar despite strong US dataThe Mexican Peso recovered some ground against the US Dollar on Tuesday after upbeat economic data from the United States (US), while Mexico's Business Confidence remained unchanged.
Read more »