The Mexican Peso appreciated against the US Dollar after the latest inflation data increasing the likelihood that the Bank of Mexico (Banxico) will keep rates unchanged.
Mexican Peso strengthens as the USD/MXN drops 0.21%, following April’s hot inflation report Consumer Price Index data shows prices remain above Banxico ’s target range, hinting it may hold rates at 11.00%. USD/MXN traders’ eye upcoming decisions from Banxico and its updates to economic projections. The Mexican Peso appreciated against the US Dollar after the latest inflation data increasing the likelihood that the Bank of Mexico will keep rates unchanged.
Technical analysis: Mexican Peso gains traction as USD/MXN tumbles below 16.90 The USD/MXN remains biased to the downside, showcasinging the Peso’s strength as sellers remain in charge. Momentum depicted by the Relative Strength Index in bearish territory hints that the exotic pair can be testing the 50-day Simple Moving Average at 16.79, which is the immediate support level in the short term. Once cleared, the USD/MXN would test the 2023 low of 16.
Mexico Banxico Interestrate SEO
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mexican Peso recovers slightly amid Banxico’s hawkish stance on interest ratesThe Mexican Peso trims some of its losses against the US Dollar, but it’s not out of the woods despite remarks from Bank of Mexico (Banxico) Deputy Governor Jonathan Heath suggesting that rates would likely need to remain higher.
Read more »
Mexican Peso trades sideways after Banxico Heath’s commentsThe Mexican Peso (MXN) traces a flat line on most charts on Thursday, as traders digest the previous day’s gains prompted by comments from Banxico Deputy Governor Jonathan Heath.
Read more »
Mexican Peso strengthens against US Dollar ahead of Fed speakers, Banxico decisionThe Mexican Peso begins the week on a higher note and appreciates modestly against the US Dollar in a week characterized by a busy economic docket in Mexico.
Read more »
Mexican Peso trades directionless before Banxico meetingThe Mexican Peso (MXN) fluctuates between tepid gains and losses on Tuesday as many traders wait on the sidelines for key inflation data and the Bank of Mexico (Banxico) policy meeting decision on “super” Thursday.
Read more »
Mexican Peso pressured as Banxico decision loomsThe Mexican Peso remains on the defensive against the US Dollar on Wednesday as investors brace for the Bank of Mexico (Banxico) monetary policy decision on Thursday.
Read more »
Mexican Peso trades higher on positive market mood, robust Mexican dataThe Mexican Peso (MXN) trades marginally higher on Monday, supported by a rise in risk appetite after lower-than-expected US jobs’ data raised hopes the Federal Reserve (Fed) will move to cut interest rates, reducing borrowing costs for businesses and consumers.
Read more »