* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 29, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • 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
    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • 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
    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    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 falls over 4% after landslide victory for left

June 4, 2024
in Business
Mexican Peso falls over 4% after landslide victory for left
Share on FacebookShare on Twitter

The Mexican Peso pauses after plummeting over 4% in key pairs on Monday. 
The possibility of the left-leaning Morena party winning a supermajority sparks fears among investors. 
USD/MXN breaks above a key long-term trendline, transforming the technical picture for the pair.
 

The Mexican Peso (MXN) is resuming its downtrend after a brief pause on Tuesday following an over 4% decline in its key pairs on Monday. The Peso went into freefall after early indications showed President-elect Claudia Sheinbaum and her Morena party were heading for a landslide victory in the Mexican presidential and congressional elections held on Sunday.  

USD/MXN is exchanging hands at 17.87 at the time of writing, EUR/MXN is trading at 19.47 and GBP/MXN at 22.86. 

Mexican Peso weakens on fears of a Morena party supermajority 

The Mexican Peso plummeted on Monday after a quick count by the National Electoral Institute showed Claudia Sheinbaum leading with at least 59% of the vote in the presidential elections, and her Morena party poised to possibly clinch super majorities in both houses of the Mexican legislature, according to Aljazeera News. The official results will be published after the votes are counted between June 5-8. 

The Mexican Peso weakened significantly after investors became nervous Sheinbaum’s Morena party could win super majorities – defined as a majority of two thirds – in both the Congress and the Senate. This would enable them to enact proposed reforms to the Mexican constitution, such as the election of the judiciary by popular vote and the preferential treatment of state-owned energy companies over  private corporations. Critics argue such changes could be anti-democratic and market unfriendly. 

According to estimates by Bloomberg Economics, Morena will probably win a super majority in Congress but fall four-seats short of one in the Senate. 

“Although that doesn’t immediately allow Sheinbaum to make changes to the constitution that have eluded [current President] Andres Manuel Lopez Obrador, it leaves her in the position to negotiate with just a few senators to pass key reforms,” said Bloomberg News’ Economy and Government reporter Alex Vasquez. 

Yet not all of Sheinbaum’s policies will necessarily hurt the Mexican Peso. Her pledge to increase the minimum wage by around 11%, better welfare benefits and government-led investment could increase consumer spending and economic growth, forcing the Banco de México (Banxico) to maintain high interest rates, according to Kimberley Sperrfechter, Emerging Markets Economist at Capital Economics. 

Since relatively high interest rates attract more foreign capital inflows, the Peso could remain well-supported despite investor fears.

Technical Analysis: USD/MXN breaks decisively above major trendline

USD/MXN – or the number of Pesos that can be bought with one US Dollar – breaks above a long-term trendline, marking a major shift in the outlook for the pair and probably reversing the intermediate-term downtrend to an uptrend. 

With both the short and intermediate trends bullish, the odds favor more upside over those time frames (up to six months). 

USD/MXN 4-hour Chart 

Further upside could see USD/MXN reach the April highs at around 17.92, followed by resistance at 18.12 (100-week Simple Moving Average) and then 18.49 (October 2023 high). 

The long-term trend is probably still bearish, however, suggesting a risk of a reversal lower if the uptrend runs out of steam. There are no signs of that happening yet from price action, however, which remains resolutely bullish. 

Mexican Peso FAQs

The Mexican Peso (MXN) is the most traded currency among its Latin American peers. Its value is broadly determined by the performance of the Mexican economy, the country’s central bank’s policy, the amount of foreign investment in the country and even the levels of remittances sent by Mexicans who live abroad, particularly in the United States. Geopolitical trends can also move MXN: for example, the process of nearshoring – or the decision by some firms to relocate manufacturing capacity and supply chains closer to their home countries – is also seen as a catalyst for the Mexican currency as the country is considered a key manufacturing hub in the American continent. Another catalyst for MXN is Oil prices as Mexico is a key exporter of the commodity.

The main objective of Mexico’s central bank, also known as Banxico, is to maintain inflation at low and stable levels (at or close to its target of 3%, the midpoint in a tolerance band of between 2% and 4%). To this end, the bank sets an appropriate level of interest rates. When inflation is too high, Banxico will attempt to tame it by raising interest rates, making it more expensive for households and businesses to borrow money, thus cooling demand and the overall economy. Higher interest rates are generally positive for the Mexican Peso (MXN) as they lead to higher yields, making the country a more attractive place for investors. On the contrary, lower interest rates tend to weaken MXN.

Macroeconomic data releases are key to assess the state of the economy and can have an impact on the Mexican Peso (MXN) valuation. A strong Mexican economy, based on high economic growth, low unemployment and high confidence is good for MXN. Not only does it attract more foreign investment but it may encourage the Bank of Mexico (Banxico) to increase interest rates, particularly if this strength comes together with elevated inflation. However, if economic data is weak, MXN is likely to depreciate.

As an emerging-market currency, the Mexican Peso (MXN) tends to strive during risk-on periods, or when investors perceive that broader market risks are low and thus are eager to engage with investments that carry a higher risk. Conversely, MXN tends to weaken at times of market turbulence or economic uncertainty as investors tend to sell higher-risk assets and flee to the more-stable safe havens.

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-falls-over-4-after-landslide-victory-for-left-202406040821

Tags: businessFallsMexican
Previous Post

MicroStrategy Inc.(MSTR) Elliott Wave technical analysis [Video]

Next Post

NZD/USD Price Analysis: Tests Bullish Flag breakout region

Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

June 29, 2025
Fireworks sales support Folsom youth sports: ‘This is our biggest fundraiser’ – Sacramento Bee

Fireworks Sales Ignite Support for Folsom Youth Sports: “This Is Our Biggest Fundraiser

June 29, 2025
Murder, she measured: The impressive science behind Agatha Christie’s poisons – Big Think

Deadly Secrets Unveiled: The Fascinating Science Behind Agatha Christie’s Poisons

June 28, 2025
Science and social norms – Golf Course Management magazine

How Science is Revolutionizing Social Norms in Golf Course Management

June 28, 2025
Study Links Skipping Breakfast to Poor Diet and Lifestyle Habits in Teens – Olive Oil Times

Study Links Skipping Breakfast to Poor Diet and Lifestyle Habits in Teens – Olive Oil Times

June 28, 2025
What Worries the World – June 2025 – Ipsos

Top Global Concerns Shaping June 2025

June 28, 2025
Small business owners aren’t jumping for joy about the US economy – but they still aren’t jumping ship – The Guardian

Small Business Owners Hold Firm Amid Ongoing Uncertainty About the US Economy

June 28, 2025
U.S. uninsured rates could resurge if Trump’s budget bill passes – NPR

U.S. Uninsured Rates Could Surge if Trump’s Budget Bill Becomes Law

June 28, 2025
Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

June 28, 2025
Axios Event: Media execs are betting big on women’s sports – Axios

Axios Event: Media execs are betting big on women’s sports – Axios

June 28, 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 (699)
  • Economy (722)
  • Entertainment (21,613)
  • General (15,611)
  • Health (9,761)
  • Lifestyle (727)
  • News (22,149)
  • People (723)
  • Politics (728)
  • Science (15,939)
  • Sports (21,219)
  • Technology (15,707)
  • World (702)

Recent News

Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

June 29, 2025
Fireworks sales support Folsom youth sports: ‘This is our biggest fundraiser’ – Sacramento Bee

Fireworks Sales Ignite Support for Folsom Youth Sports: “This Is Our Biggest Fundraiser

June 29, 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