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Mexico Mid-month inflation shows rates continue to climb; USD/MXN

Mexico’s mid-month inflation rate hit a new high for the cycle today at 8.62%, which is helping push USD/MXN lower today towards prior support.

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August 24, 2022 11:11 AM
Bank notes of different currencies

Lower headline Mexico CPI. Will Banxico hike tomorrow?

January headline CPI was weaker than December’s while the Core CPI was stronger. How will Banxico interpret this data?

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February 9, 2022 11:20 AM
Yen, Euros and dollar currency bills and notes

USD/MXN and Other EM Currencies may be Topping

Emerging market currencies, in general, have been getting hit over the last few weeks.

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April 6, 2020 07:32 AM

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Bank notes of different currencies

The Collapse of the Mexican Peso

As the selloff continued in global stocks, the Mexican Peso continued lower vs the US Dollar.

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The Fall of the Mexican Peso

As long as stocks are moving lower, the carry trade should continue to unwind.

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February 27, 2020 06:11 AM
Currency prices

USD/MXN Nearing Levels Not Seen Since 2018

The USD/MXN finally broker lower out of the triangle on December 11th, 2019

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January 17, 2020 09:30 AM

Mexican Peso Stronger on Possible USMCA Deal

One must wonder how much of a “Done Deal” is already priced into USD/MXN.

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December 9, 2019 10:59 AM

Bank of Mexico Cuts 25bps, USMCA Up Next

There is the possibility that USD/MXN can gap lower on the reopen.

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November 15, 2019 10:20 AM

USD/MXN Up Over 1% before Thursday's Bank of Mexico Meeting

Banxico is widely expected to cut interest rates by 25bps for the third time.

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November 12, 2019 10:27 AM

Peso rally faces home-grown challenges

Mexico’s currency may struggle to extend trade truce gains

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October 11, 2019 11:19 AM

Banxico Cuts 25bps as Expected, USMCA in Play

USD/MXN bulls will buy dips, as the pair had pulled back and held previous support.

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September 26, 2019 11:53 AM

Argentina's Woes Continue

Today the Argentinean government asked the IMF to restructure a $57 billion loan

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August 29, 2019 11:15 AM

USD/MXN Finally Powers through Resistance

USD/MXN finally muscled its way through the 19.7700 level

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August 19, 2019 02:14 PM

Central Bank of Mexico Surprises Market and Cuts Rates by 25bps

The Central Bank of Mexico cut overnight interest rates by 25bps, to 8.00%.

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August 15, 2019 12:03 PM

USD Bears Get 'Hammered' On Hopes Of Trade Turnaround

News that US Congress could challenge Trump’s tariffs on Mexico saw a reversal of fortunes for a bruised USD, creating a series of potential reversal patterns for some USD markets.

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June 5, 2019 05:56 PM

Trump Roils Markets With Tariffs On Mexican Goods | MXN, S&P500

Equity futures are broadly lower, thanks to Trump’s latest tariff threat on Mexican goods. Which could make for a lively US open unless we see a reversal of negative sentiment.

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May 30, 2019 11:12 PM

Results Are In: Trump Wins, Markets Plunge then Rebound

It appears that polls and projections in the past few days and weeks have turned out to be severely inaccurate in predicting the outcome of the 2016 US presidential election. After a long and heart-pounding election night, Donald Trump achieved a market-shocking upset by pulling ahead from behind and ultimately defeating Hillary Clinton to become the new President-elect of the United States. Additionally, Republicans retained control in both the US Senate and House of Representatives for a clean GOP sweep.

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Markets Gap on Likelihood of Clinton Win

Stock markets, the dollar, gold, and the Mexican peso all reacted sharply over reports on Sunday that the FBI has not discovered any further incriminating evidence in its re-launched review of Presidential Candidate Hillary Clinton’s past emails. FBI Director James Comey wrote in a letter to Congress, “based on our review, we have not changed our conclusions that we expressed in July with respect to Secretary Clinton.” In July, the FBI had stated that it would not pursue charges against Clinton over her use of a private email server when she was US Secretary of State.

Mexican peso falls as Trump's prospects rise

Despite a generally ailing US dollar on Tuesday due in part to heightened risk imposed by next week’s elections, the greenback rose sharply against the Mexican peso as Donald Trump’s presidential prospects continued to be lifted by Hillary Clinton’s ongoing email troubles.

USD/MXN heading for further breakdown as peso extends recovery

Despite acute US dollar strength throughout the month of October thus far, the USD/MXN currency pair has been in a virtual state of free fall due to a sharp and prolonged rebound for the Mexican peso that has corresponded with the deterioration of Donald Trump’s campaign for the US presidency.

US Presidential Election: Last Debate and Final Stretch

The third and last debate between the two main candidates in the final stretch before the US presidential election is set to take place in Las Vegas on Wednesday night. It’s rather fitting that the near-culmination of the two rivals’ bitter back-and-forth feuding should occur in a city known best for its gambling industry – it’s largely a matter of chance as to what will be in store for the nation and the world in this heavily-anticipated bashing contest.

US Election Trade: USD/MXN plunges as Trump's peso pressure eases

When it comes to currencies, the highly-touted “Trump Trade” has revolved largely around the Mexican peso. It has been no secret that US Presidential Candidate Donald Trump’s heavily protectionist trade policies, not to mention his stance on immigration, have targeted Mexico in particular. Besides proposing to build a wall between the US and Mexico, Trump has also repeatedly expressed his staunch opposition to the North American Free Trade Agreement (NAFTA) and has proposed broad restrictions on both Chinese and Mexican imports. The result has been increasing speculation that if Trump is seen to win the presidency, the Mexican peso could suffer dramatically against the US dollar.

USD/MXN bears need a Peso-maker after this year’s start

As we’ve noted repeatedly over the first trading week, emerging market currencies have been getting walloped as panicked FX traders sell any holdings they see as risky for the perceived safety of the US dollar and Japanese yen. As the chart at the bottom of this report shows, the Mexican peso has certainly not been spared from the EM FX massacre.