Mexican Peso weakens on lower inflation data, USD revival

📆 10/10/2024 2:07 AM

USDMXN News

SEO, Technical Analysis, Fundamental Analysis

📆 10/10/2024 2:07 AM
📰 FXStreetNews

⏱ Reading Time:
10 sec. here
5 min. at publisher
📊 Quality Score:
News: 17%
Publisher: 72%

The Mexican Peso (MXN) seesaws between tepid gains and losses in its most heavily-traded pairs on Thursday after weakening for two days in a row.

The Mexican Peso weakens after the release of lower inflation data. This is expected to speed-up interest-rate cuts by the Bank of Mexico, reducing inflows. The US Dollar resurfaces from the depths, reviving USD/MXN’s medium-term uptrend. The Mexican Peso seesaws between tepid gains and losses in its most heavily-traded pairs on Thursday after weakening for two days in a row.

Continued elevated inflation would, in turn, delay any cuts to interest rates planned by Banxico – or make the reductions more gradual – with the side-effect of propping up the Mexican Peso.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

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.

Weekly forex analysis: EUR/USD, GBP/USD, AUD/USD and more [Video]Weekly forex forecast covers forecast on EUR/USD , GBP/USD , AUD/USD , NZD/USD , USD/CAD , USD/JPY , USD/CHF Forecast.Our weekly forex forecast covers technical analysis, price action on major forex pairs , assets using the high-timeframes and market environment.
Read more »

Mexican Peso edges lower before Banxico decisionThe Mexican Peso (MXN) seesaws between tepid gains and losses in its major pairs on Thursday, ahead of the Bank of Mexico (Banxico) September policy meeting scheduled for 19:00 GMT.
Read more »

Mexican Peso edges lower ahead of central bank decision timeThe Mexican Peso (MXN) edges lower on Tuesday morning after mildly retreating the prior day.
Read more »

Mexican Peso edges lower on rumors of dissenting senatorThe Mexican Peso (MXN) trades marginally lower on Tuesday, maintaining the steady bear trend established in its key pairs since April.
Read more »

Mexican Peso gains as main currency peers suffer on lower interest-rate outlookThe Mexican Peso (MXN) extends its gains on Friday, capping off a week in which the currency has appreciated on average 2.3% against its most heavily-traded counterparts so far.
Read more »