USMCA — News Archive

    Archives

Mexican Peso Demonstrates Good Performance Despite Interest Rate Cut by Banxico

Friday’s performance of the Mexican peso was rather good considering that Mexico’s central bank decided to cut interest rates. The currency was about flat versus the US dollar and even managed to gain on the extremely weak euro. The good performance could be explained by the fact that the bank refrained from a deeper cut and its policy statement sounded less dovish than expected.

US Dollar Spikes on Higher Q3 GDP Reading

The US dollar enjoyed a spike against several currency rivals at the end of the trading week, driven primarily by a higher final reading of the gross domestic product in the third quarter. The buck was further lifted on a decline in the cost of manufacturing goods consumed at home and exported to foreign markets.

Mexican Peso Weakens As USMCA Remains Incomplete

The Mexican peso is weakening against its major currency rivals at the end of the trading week, driven primarily by the delay in completing the new North American Free Trade Agreement, which is also known as the USMCA. But the peso’s declines were capped by strong retail sales data for September.

Mexican Peso Strengthens Despite Doubts Over USMCA

The Mexican peso is strengthening against several currency pairs on Thursday, despite doubts over the trade agreement between the US, Mexico, and Canada. The peso is gaining on expectations of modest third-quarter growth and it is still getting a boost from the central bank recently cutting interest rates. 

Mexican Peso Mixed on Economy, Trade Uncertainty

The Mexican peso is mixed against several major currency pairs on Thursday as investors remain uncertain as to how to trade the country and the currency. There are signs that the economy is still slumping, despite cuts to interest rates and a populist left-leaning government willing to spend money. With trade uncertainty lingering in the background, the peso might be in store for some choppy waters.

Positive Fundamentals Help Loonie to Rally Despite Huge Drop of Oil Prices

The Canadian dollar gained on Thursday, though trimmed its gains by the end of the trading session. The currency managed to rally even as crude oil posted huge losses, falling more than 4% over the course of Thursday’s trading. There were several possible fundamental reasons for the good performance of the Canadian currency.

Canadian Dollar Weakens Despite Ottawa Tabling USMCA Ratification

The Canadian dollar is weakening against major currencies on Tuesday, despite the federal government tabling a motion that would ratify the historic US-Mexico-Canada Agreement, or USMCA. But the loonie might be losing traction because the Bank of Canada (BOC) is not expected to raise interest rates until after the federal election in October.

Mexican Peso Weakens Despite Nearing Repeal of US Steel Tariffs

The Mexican peso is weakening against several major currencies toward the end of the trading week. Despite senior officials claiming that they are close to striking a deal that would see the US repeal its tariffs on steel and aluminum from Mexico, the peso was unable to take advantage. This could show that traders are more concerned about its fledgling economy and the political turmoil that has unfolded […]

Loonie Dips Intraday on Inflation Data, Recovers to Settle Higher

The Canadian dollar declined intraday as some of Canada’s inflation indicators missed expectations. But the currency rebounded later, ending the Wednesday’s trading session above the opening level.

Canadian Dollar Weakens on IMF Forecast, Crude Oil

The Canadian dollar is weakening on Tuesday after the International Monetary Fund (IMF) published a bearish report on the Canadian economy. The loonie endured additional pressure on tumbling energy prices, which is never good news for a country whose main export is crude oil.

Navigation

Menu