Mexican Peso faces volatility after Bank of Mexico cuts interest rates and trade deficit widens.

The Mexican Peso (MXN) faced volatility after the Bank of Mexico cut interest rates by 25 basis points and amid a widening trade deficit, reaching $4.868 billion in August. Traders are closely watching US economic data, including Nonfarm Payrolls, which could influence the USD/MXN exchange rate. The pair shows a bullish trend, fluctuating between 19 and 20 MXN, with potential impacts from remittances and upcoming speeches by Mexican officials.

September 30, 2024
7 Articles