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Mexican Peso Rises on U.S. Manufacturing Numbers

July 1, 2009 at 18:59 by Jan Baros

Mexican PesoThe Mexican peso had a positive performance today as U.S. manufacturing shrank at a slower pace, adding confidence that the U.S. recession might be ending.

In the United States, the Institute for Supply Management’s factory index rose to 44.8, from 42.8 in May, reaching the highest level since August 2008, being still a negative figure, since levels below 50 are referred to contractions in manufacturing. Analysts suggest that improved data coming from the U.S. is favorable to the peso, since the United States is the main trading partner of the Mexican nation.

USD/MXN traded at 13.1135 as of 5:56 GMT from 13.1845 yesterday.

If you have any questions, comments, or opinions regarding the Mexican Peso, feel free to post them using the commentary form below.

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