USD/MXN moves upward toward 18.3000 on risk aversion amid Middle-East conflict

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USD/MXN moves upward toward 18.3000 on risk aversion amid Middle-East conflict
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USD/MXN extends the winning streak for the third consecutive session, trading higher around 18.2990 during the Asian session on Thursday. The pair gai

USD/MXN continues the winning streak as negative sentiment sours on the Israel-Hamas war. Banxico Deputy Governor Mejia has affirmed that the balance of inflation risks has not worsened. US Building Permits surpassed expectations, and Housing Starts rebounded in September. ns ground due to the risk aversion amid the escalating Israel-Hamas military situation. United States President Joe Biden’s visit to Israel has, so far, fallen short of easing the conflict.

The US housing market is sending mixed signals, with Building Permits in September surpassing expectations, and Housing Starts rebounding, though slightly below the market consensus, adding complexity to the narrative. Building Permits for September came in at 1.475 million, surpassing the expected 1.45 million. On the other hand, Housing Starts rebounded to 1.35 million, just shy of the market consensus of 1.38 million.

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