The Mexican Peso (MXN) trades slightly lower in its key pairs on Tuesday, though it has recovered a little in the minutes after the release of more inflationary data from Mexico.
The Mexican Peso recovers a little after the release of more inflationary data from Mexico. The data makes it less likely the Bank of Mexico will cut interest rates which supports the currency. On the charts, USD/MXN closes in on a key support level at 17.87. The Mexican Peso trades slightly lower in its key pairs on Tuesday, though it has recovered a little in the minutes after the release of more inflationary data from Mexico.
The data makes it less likely the Bank of Mexico will be in a hurry to cut interest rates anytime soon. It comes after the Deputy Governor of the Banxico Jonathan Heath said he was adopting a data-dependent stance similar to that of Federal Reserve Chairman Jerome Powell in the US. Technical Analysis: USD/MXN slides lower towards line in the sand USD/MXN continues steadily declining as it unfolds a short-term downtrend towards the key June 24 line-in-the-sand low at 17.87.
SEO Technical Analysis Fundamental Analysis
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 bottoms out as Obrador says Peso is backed by “strong economy”The Mexican Peso (MXN) seesaws between tepid gains and losses on Thursday after bottoming out at an 18-month low due to politically-inspired market jitters.
Read more »
Mexican Peso bottoms out after depreciating over 8.0% last weekThe Mexican Peso (MXN) makes a marginal recovery on Monday after losing over 8.0% in the previous week in its most heavily traded pairs.
Read more »
Banxico Governor assures market stability amid Mexican Peso volatilityBank of Mexico (Banxico) Governor Victoria Rodriguez Ceja commented on Wednesday that the central bank has the tools to intervene in the markets and restore market order after the Mexican Peso depreciated more than 9% following the June 2 election.
Read more »
Mexican Peso climbs as Banxico hints at readiness to interveneThe Mexican Peso recovered some ground on Thursday and appreciated 0.93% following a verbal intervention by the Bank of Mexico (Banxico).
Read more »
Mexican Peso recovery falters as investors shrug off Banxico’s intervention warningThe Mexican Peso (MXN) trades between half a percent and one percent lower in its most traded pairs on Friday as markets continue to fret about the proposed policies of Mexico’s newly elected left-wing government.
Read more »
Mexican Peso depreciates further on continued political uncertaintyThe Mexican Peso (MXN) continues to depreciate on Wednesday as investors fret about constitutional reforms proposed by the left-wing administration of President-elect Dr.
Read more »