* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

    Will Generative AI Transform the Future of Entertainment

    Author Richard Russo Will Speak At Sandwich Town Hall – CapeNews.net

    Join Us for an Inspiring Evening with Author Richard Russo at Sandwich Town Hall!

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Entertainment Partners Acquires CASHét, Digital Payments Vendor for Productions – Variety

    Salem’s Harborwalk Garden Cultivates Community with Entertainment, Food, and Events – 105.7 WROR

    Discover the Vibrant Community Spirit at Salem’s Harborwalk Garden: A Hub for Entertainment, Food, and Fun!

    Entertainment-Focused Narrative and Culture Change Practice – New America

    Transforming Culture Through Engaging Entertainment Narratives

    Rising stars: Young classical musicians surging on social media – Yahoo

    Meet the Next Generation of Classical Music Sensations Making Waves on Social Media!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

    Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Inside the tedious effort to tally AI’s energy appetite – MIT Technology Review

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    Finland Set to Lead EU Quantum Technology Defense Project – IoT World Today

    AI for lawyers: Win back your time using technology – nationaljurist.com

    Reclaim Your Time: How AI is Transforming the Legal Profession

    Prosecutors accuse men of exporting U.S. military technology to China – Milwaukee Journal Sentinel

    Men Charged with Illegally Exporting U.S. Military Technology to China

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    ROLAND’S NEW WIRELESS TRIGGER TECHNOLOGY, PORTER & DAVIES ON TOUR, NEW 64 AUDIO ASPIRE UNIVERSAL IEM MODELS, WAVES FREE PLUGIN PACK – Modern Drummer Magazine

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Mexican Peso edges lower as risk-off sentiment weighs

June 17, 2024
in Business
Mexican Peso edges lower as risk-off sentiment weighs
Share on FacebookShare on Twitter

The Mexican Peso trades lower in its major pairs at the start of the new trading week.
Global growth fears and the unwillingness of the Fed to lower borrowing costs are curbing enthusiasm and weighing on MXN. 
USD/MXN is still pulling back in the midst of a short and medium-term uptrend. 

The Mexican Peso (MXN) edges lower in its key pairs on Monday as market sentiment sours amid global growth fears and French political uncertainty. As a “risk-on” currency, the Peso accordingly takes some heat. 

At the time of writing, a single US Dollar (USD) buys 18.49 Mexican Pesos, EUR/MXN is trading at 19.81 and GBP/MXN at 23.44.

Mexican Peso edges lower on global outlook, Fed caution

The Mexican Peso trades marginally bearish at the start of the new trading week as global growth concerns and the political situation in France weigh. A contraction in official Chinese manufacturing data in May combined with a fall in commodity imports due to rising prices are partly to blame. However, the US Federal Reserve’s (Fed) cautious stance at its meeting on Wednesday, with the bank clearly not in a hurry to reduce borrowing costs, further weighed on overall market sentiment. 

On Thursday the Peso recovered after verbal intervention by the President of the Banco de Mexico (Banxico), Victoria Rodriguez Ceja, who said Banxico would step in to prop up the Peso if volatility became too “extreme”.

Political risk also continues to provide a background risk for the Peso. Investors are fretting over the victory of President-elect Claudia Sheinbaum and her left-wing coalition Sigamos Haciendo Historia (SHH) at the June 2 elections. SHH won a supermajority in the Mexican House of Deputies and came two seats away in the Senate. This will give it a mandate to push through radical amendments to the constitution that have set markets on edge. 

Market positioning has added fuel to sell-off following the build-up of an overweight long bet on the Mexican Peso since its long-term uptrend began in 2020. Relatively high interest rates of 11.00%, set by the Banxico to control inflation, have been a major draw for investors seeking returns. This is especially true of carry traders, for example, who borrow in currencies with low interest rates like the Japanese Yen (Apr circa 0.0% -0.1%) and invest in currencies like the Mexican Peso that offer higher returns (Apr circa 11.00%), pocketing the difference. 

“Before the election, we’d been arguing for some time that the Peso appeared increasingly overvalued and was vulnerable to a sharp fall – the declines over the past couple of weeks have taken it within touching distance of our long-standing year-end forecast of 19.00 (USD/MXN),” said Jason Tuvey, Deputy Chief Emerging Markets Economist at Capital Economics, to FXStreet. 

Technical Analysis: USD/MXN pulls back but remains in short-term uptrend

USD/MXN appears to be resuming its short-term uptrend after a pullback, and given “the trend is your friend,” the odds favor a continuation higher, probably to the next target situated at 19.22 (March 2023 high).

USD/MXN Daily Chart 

A break above Friday’s high at 18.68 would provide additional confirmation of more upside towards the target at 19.22.

The Relative Strength Index (RSI) has just exited the overbought zone, which is a signal for traders to close their longs. This suggests a risk the correction could still go deeper. That said, the established uptrend is likely to resume eventually.

The direction of the long-term trend is in doubt after the break above the October 2023 high. Previous to that, it was down. 

Economic Indicator

Fed Interest Rate Decision

The Federal Reserve (Fed) deliberates on monetary policy and makes a decision on interest rates at eight pre-scheduled meetings per year. It has two mandates: to keep inflation at 2%, and to maintain full employment. Its main tool for achieving this is by setting interest rates – both at which it lends to banks and banks lend to each other. If it decides to hike rates, the US Dollar (USD) tends to strengthen as it attracts more foreign capital inflows. If it cuts rates, it tends to weaken the USD as capital drains out to countries offering higher returns. If rates are left unchanged, attention turns to the tone of the Federal Open Market Committee (FOMC) statement, and whether it is hawkish (expectant of higher future interest rates), or dovish (expectant of lower future rates).

Read more.

Last release: Wed Jun 12, 2024 18:00

Frequency: Irregular

Actual: 5.5%

Consensus: 5.5%

Previous: 5.5%

Source: Federal Reserve

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FXStreet – https://www.fxstreet.com/news/mexican-peso-trades-flat-to-lower-on-global-growth-concerns-fed-impasse-202406170819

Tags: businessedgesMexican
Previous Post

Silver Price Analysis: Pulling back within a probable downtrend

Next Post

“The absence of the Rampage left a void in the guitar world”: G&L launches the long-awaited Rampage 24 – which gives Jerry Cantrell’s workhorse grunge machine a 21st century overhaul

Experimental ecology and the balance between realism and feasibility in aquatic ecosystems – Nature

Experimental ecology and the balance between realism and feasibility in aquatic ecosystems – Nature

June 4, 2025
The Science of Scent: How Israeli Innovation is Redefining Perfume and Wellness – The Jerusalem Post

Unlocking the Power of Scent: How Israeli Innovations are Transforming Perfume and Wellness

June 4, 2025
Accidental discovery at New York planetarium unlocks secret into universe’s inner workings – PBS

Serendipitous Find at New York Planetarium Reveals Secrets of the Universe!

June 4, 2025
Lifestyle choices at 60 linked to dementia risk decades later, study shows – ABC News

How Your Lifestyle Choices at 60 Could Impact Dementia Risk Later in Life

June 4, 2025
GBH layoffs hit 45 staffers less than a month after World cuts – Current – For people in public media

GBH Cuts Deep: 45 Staff Members Laid Off Just Weeks After Major Restructuring

June 4, 2025
Washington state gets a $918M lift from international students – Axios

Washington State Reaps $918 Million Boost from International Students!

June 4, 2025
Spotify & OpenAI: Will Gen AI ‘Hollow Out’ Entertainment? – Technology Magazine

Will Generative AI Transform the Future of Entertainment

June 4, 2025
In a first, Minnesota doctors walk their own picket line, then hustle to see patients – Star Tribune

Doctors in Minnesota Take a Stand: Walking the Picket Line Before Caring for Patients

June 4, 2025
Mein Kampf found with gun case at USF and FSU shooter idolized Hitler — there’s time, and a need, for lawmakers to act – Florida Politics

Uncovering Dark Ideologies: The Alarming Connection Between Recent Shootings and Extremist Influences

June 4, 2025
The Isfahan Center for Nuclear Technology – UCF, ZPP, and IRR10 – Alma Research and Education Center

Exploring the Isfahan Center for Nuclear Technology: Innovations and Insights from UCF, ZPP, and IRR10

June 4, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (665)
  • Economy (679)
  • Entertainment (21,585)
  • General (15,261)
  • Health (9,721)
  • Lifestyle (682)
  • News (22,149)
  • People (680)
  • Politics (688)
  • Science (15,899)
  • Sports (21,183)
  • Technology (15,665)
  • World (666)

Recent News

Experimental ecology and the balance between realism and feasibility in aquatic ecosystems – Nature

Experimental ecology and the balance between realism and feasibility in aquatic ecosystems – Nature

June 4, 2025
The Science of Scent: How Israeli Innovation is Redefining Perfume and Wellness – The Jerusalem Post

Unlocking the Power of Scent: How Israeli Innovations are Transforming Perfume and Wellness

June 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version