Mexican Peso Hits Five-Month High on Weak US Jobs Data
9 Articles
9 Articles
The Mexican peso yesterday extended its appreciation, despite the fact that the dollar reversed its fall, in a context where US inflation moderated marginally to 3.4 percent per year in July, compared to the rise in consumer prices of 3.5 percent observed in June, revealed the Labor Statistics Agency of the Department of Labor.
To understand what is happening you have to see the price of the US currency as one more commodity that operates in the market, such as coffee, oil and many more and not as a symbol of the strength or weakness of the Mexican economy, as some think.
Mexican Peso hits five-month high on weak US jobs data
The Mexican Peso (MXN) capitalizes on a weaker US jobs report and soars versus the US Dollar (USD) on Friday as risk appetite improves and the Greenback gets battered on speculation that the Federal Reserve (Fed) might not raise rates in 2026. At the time of writing, the USD/MXN pair trades at 17.18 after refreshing five-month lows at 17.09. USD/MXN tumbles as Mexico’s inflation approaches target The Mexican economic docket showed that inflation…
The dollar dropped to about 17.06 pesos in the international foreign exchange market (Forex) this Wednesday before the attraction of the "carry trade", that is, the investment strategy by which it takes advantage that interest rates in Mexico are much higher than in the United States. Thus, the Mexican currency advanced to levels not seen in just over two years, since June 2024, after the July US inflation dispelled concerns that the Federal Res…
Tomorrow's inflation report will bring key information to a market that last week reduced its bets on an increase in the Fed's rate.
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