The Mexican Peso (MXN) edges lower at the start of the European session on Tuesday, as rumors persist that the carry trade which had hitherto been favorable for the Peso is unwinding.
The Mexican Peso is stalling in an uptrend on rumors of the carry trade unwinding. Mexican Retail Sales data is scheduled for release on Tuesday. From a technical perspective, USD/MXN is unfolding a down leg within a rising channel. The Mexican Peso edges lower at the start of the European session on Tuesday, as rumors persist that the carry trade which had hitherto been favorable for the Peso is unwinding. Interest rates in Mexico are relatively high at 10.
57% and this could be further supported by stubbornly high dwelling inflation, according to research by Capital Economics, who expect the Banco de Mexico to take a gradual approach to cutting interest rates . Trump risk reduces The steadily decreasing chance of former-president Donald Trump winning the US presidential election in November and instituting higher tariffs on foreign imported goods, many of which come from Mexico, is a further supportive factor for the Peso.
SEO Technical Analysis Fundamental Analysis
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 steady on TuesdayThe Mexican Peso (MXN) held close to flat on Tuesday, paddling around 19.00 as Peso traders find their balance following a 1.2% drop in the MXN’s value against the Greenback.
Read more »
Mexican Peso struggles to add in a fourth gain in a rowThe Mexican Peso (MXN) eased slightly higher against the Greenback on Friday, but bullish momentum behind the MXN is draining quickly after putting in three straight days of gains.
Read more »
Mexican Peso recovers as carry-trade unwind fadesThe Mexican Peso (MXN) recovers in its most traded pairs on Friday after an over-week-long sell-off.
Read more »
Mexican Peso weakens as investors unwind the carry tradeThe Mexican Peso (MXN) falls to a roughly four-week low on Thursday in its most traded pairs as investors rotate out of the carry trade, which favors currencies where interest rates are high, such as in Mexico (11.
Read more »
Mexican Peso pares recent gains as bulls reloadThe Mexican Peso (MXN) returned six-tenths of one percent to Greenback bidders on Monday, paring back recent gains as Peso bulls took a breather.
Read more »
Mexican Peso plunges as trade deficit widens and USD strengthensThe Mexican Peso depreciated sharply as the week began after data revealed Mexico’s Balance of Trade deficit widened — its worst reading since August 2020, according to data revealed by the Instituto Nacional de Estadistica, Geografia e Informatica (INEGI).
Read more »