The Mexican peso is struggling for direction against its US counterpart in the middle of the trading week amid mixed economic data. The peso recently snapped a multi-session losing streak after foreign exchange markets were concerned over slumping factory activity and energy supplies from the US after the blast of wintry weather.
The Mexican peso is weakening against its US peer on Tuesday, joining the broader decline among Latam currencies. The peso failed to trend higher amid rising inflation and the Supreme Court striking down the government’s reform proposals. Investors are also monitoring the nation’s vaccine rollout that has been described as “disastrous” among observers, with the president promising to have enough vaccines to treat all seniors.
The Mexican peso is rebounding from its two-week low against the US dollar on Tuesday, breaking below the 20.00 level. The peso struggled to kick off the trading week as President Andres Manuel Lopez Obrador tested positive for the coronavirus in a country that has seen the seven-day average of new infections top 17,000. Mixed economic data weighed on the currency, too.
The Mexican peso weakened against its US counterpart to start the trading week, joining the decline in most other Latin American currencies. Foreign exchange markets sold the peso after it was reported that the new COVID-19 variant that was first seen in the UK had been discovered in Mexico. In addition to disappointing economic data, the peso could be in for a rough first quarter.
The Mexican peso is strengthening against some of its peers to close out the trading week, buoyed by slowing inflation and improving macroeconomic data. The peso has been one of the top-performing Latin American currencies in recent months, despite the coronavirus pandemic failing to subside and the public health crisis affecting the region’s second-largest economy.
The Mexican peso is struggling to find support against several major currency rivals after the central bank cut interest rates for the 11th consecutive month. The Mexican economy has been slumping as the country fails to contain the coronavirus pandemic, with the number of new infections rising thousands per day. Despite the peso making gains this past summer, it has been one of the worst-performing Latin American currencies this year.
The Mexican peso is falling against the US dollar and other G10 currency competitors on Tuesday after the central bank surprised financial markets and cut interest rates. The peso weakened even further as officials are sounding the alarm about a significant crash in Latin America’s second-largest economy.
The Mexican peso is trading relatively flat against several major currency competitors on Tuesday. With the latest economic data coming in mixed, the public and investors may be becoming increasingly impatient with President Andres Manuel Lopez Obrador’s policies. A cyber attack on the nation’s economy ministry did not help spur confidence in AMLO’s government either.
The Mexican peso is weakening against several currencies on Thursday as the International Monetary Fund (IMF) cut its growth projections for the country. This comes as the unemployment rate fell last month to its lowest level in nearly two years and inflation came higher than expected.
The Mexican peso slipped against multiple currency rivals to kick off the trading week as weak industrial output, fixed investment, and consumer confidence impacted the currency. Despite the disappointing numbers, the central bank anticipates the economy to record a strong first quarter. Is this enough to lift the peso?
