Forex
Home›Forex›Major Pairs›Mexican Peso holds firm vs. dollar around 16.95 after…
Mexican Peso holds firm vs. dollar around 16.95 after Banxico minutes
USD/MXN was little changed near 16.95, while Mexico’s INEGI projects only modest growth of 0.1% in July and slower Q3 activity.
The Mexican peso held steady against the US dollar as Banxico adopted a cautious stance in its latest monetary policy minutes, with USD/MXN trading around 16.95 and little changed on the day, according to FXStreet.
FXStreet also pointed to a stable US labor market, after jobless claims for the week ending August 15 came in at 206K, better than the 210K forecast and below the prior 212K print.
In Mexico, INEGI indicated the economy would have grown modestly, with its Timely Indicator of Economic Activity pointing to 0.1% growth in July and slower conditions in Q3, alongside an annual view of 2.7% YoY growth in July.
Looking ahead, the report cited upcoming data including Mexico retail sales and highlighted that Mexico’s peso setup remains pressured near technical resistance, with USD/MXN below key 50-, 100-, and 200-day moving averages near 17.3 and an RSI reading around 29.0.