Mexican Peso (MXN) registers solid gains against the US Dollar (USD) on Monday due to the Greenback softening on an improvement in risk appetite. Fede
Mexican Peso contains the USD/MXN below 18.00, helped by a lack of escalation in the Middle-East conflict. Peso is more likely to be influenced by US economic data as Mexico’s calendar is light. Dovish stances from Fed officials, including Austan Goolsbee and Patrick Harker, weigh on the US Dollar. ral Reserve officials in the United States remain dovish while manufacturing activity reported by the New York Fed showed a deceleration in the region, further weighing on the Dollar.
25% in September and revised its inflation projections from 3.5% to 3.87% for 2024, above the central bank’s 3% target . Technical Analysis: Mexican Peso hovers around 18.00, USD/MXN sellers eye the 200-day SMA The Mexican Peso is staging a comeback but remains at risk of depreciating further if USD/MXN sellers reclaim the 200-day Simple Moving Average at 17.75. If broken this major SMA could extend the pair’s losses towards 17.50.
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