* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, July 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

  • 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
    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Column: Teach kupuna new technology skills – Honolulu Star-Advertiser

    Empowering Kupuna: Unlocking New Technology Skills for a Connected Future

    EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

    EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

    Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Longhua District and Max-Matching Entertainments, supported by RWS Global forge strategic partnership to develop international IP-themed entertainment complex – Amusement Today

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Government whip to withdraw Entertainment Complex Bill on July 9 – Nation Thailand

    Magicians and Battlebots light up Las Vegas entertainment scene – KSNV

    Magicians and Battlebots Take Las Vegas Entertainment by Storm

    Max-Matching Entertainments & Longhua District form partnership for new entertainment complex – Blooloop

    Max-Matching Entertainments and Longhua District Unite to Launch Thrilling New Entertainment Complex

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

  • 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
    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

    Technology And Construction Names Join Top Stock Lists: Check Out Additions To IBD 50, Big Cap 20 And More – Investor’s Business Daily

    Technology and Construction Leaders Surge Into Top Stock Rankings: See the Latest Additions to IBD 50, Big Cap 20, and More

    Column: Teach kupuna new technology skills – Honolulu Star-Advertiser

    Empowering Kupuna: Unlocking New Technology Skills for a Connected Future

    EIFO invests $5 million in D3, the Ukraine-focused defence technology venture fund – sUAS News

    EIFO Pledges $5 Million to Supercharge Ukraine-Focused Defense Technology Fund

    New Technology for Water Efficiency and Working with Mexico on Screwworm – AG INFORMATION NETWORK OF THE WEST

    Revolutionary Water Efficiency Technology and Cross-Border Collaboration to Defeat Screwworm

    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    Trending Tags

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

Mexican Peso drops to a fresh weekly low against the US Dollar

November 29, 2023
in General
Mexican Peso drops to a fresh weekly low against the US Dollar
Share on FacebookShare on Twitter

Mexican Peso advance is capped by the Greenback as the economy in the United States (US) remains solid.
The OECD predicts a slowdown in Mexico’s economy, largely due to a cooling US economy impacting Mexican exports.
Fed Waller’s dovish remarks limit the USD/MXN advance, as traders anticipate over 100 bps rate cuts from Fed in 2024.

Mexican Peso (MXN) falls sharply against the US Dollar (USD) in an early trading session on Wednesday after the US Department of Commerce revealed the economy in the United States (US) is growing above trend, which could warrant further action by the US Federal Reserve’s (Fed). Consequently, the USD/MXN bounces off its daily lows and trades near the highs of the week at 17.21, up 0.40% on the day.

Mexico’s economic docket remains light. On Thursday, October’s unemployment rate is expected to be 2.8%, a tick lower than in September. Meanwhile, the Organization for Economic Co-operation and Development (OECD) released the 2024 economic outlook for Mexico, in which the economy is expected to expand at a slower pace of 2.5%, down from a 3.4% growth rate registered in 2023. The report cites the moderation of the US economy, which would likely dampen Mexico’s exports. The OECD suggests the Bank of Mexico (Banxico) monetary policy must remain restrictive, as inflation is estimated to dip to 3.9% and 3.2% in 2024 and 2025, respectively.

Across the border, the US economy grew faster than expected, the US Bureau of Economic Analysis (BEA) reported, sponsoring a leg-up in the US Dollar Index (DXY), which tracks the performance of the Greenback versus six currencies. The DXY climbs 0.23%, up at 102.95, a headwind for the USD/MXN.

Recently, US Federal Reserve officials had crossed newswires. Atlanta’s Fed President Raphael Bostic said he sees slower growth and falling inflation pressures in the current monetary policy stance. At the same time, Richmond’s Fed President Thomas Barkin commented he is “skeptical” that inflation is on its way to the Fed’s goal, while keeping the option of higher interest rates.

Daily digest movers: Mexican Peso weakens as the USD/MXN rises to 17.15 following US data

The US Gross Domestic Product (GDP) for Q3 rose by 5.2% QoQ, exceeding estimates of 5%.
The US Advancement Goods Trade Balance registered a deficit of $89.8 billion in October, widening $3.5 billion from the $86.3 deficit in September.
On Tuesday, Fed Governor Christopher Waller, a former hawk, commented that there are good economic arguments that rates could be lowered if inflation continues falling for several months.
A day after Fed Waller’s comments showed interest rates, traders expect 115 basis points of rate cuts by the US central bank in 2024.
On November 27, Banxico’s Deputy Governor, Jonathan Heath, commented that core prices must come down more, adding that one or two rate cuts may come next year, but “very gradually” and “with great caution.”
On November 24, a report revealed the economy in Mexico grew as expected in the third quarter on an annual and quarterly basis, suggesting the Bank of Mexico would likely stick to its hawkish stance, even though it opened the door for some easing.
Mexico’s annual inflation increased from 4.31% to 4.32%, while core continued to ease from 5.33% to 5.31%, according to data on November 23.
The financial markets’ narrative that the US Federal Reserve (Fed) is done hiking rates has kept the Greenback on the backfoot, but today, it has found some relief.
Data published earlier this month showed prices paid by consumers and producers in the US dipped, increasing investors’ speculations that the Fed’s tightening cycle has ended.
A Citibanamex poll suggests that 25 of 32 economists expect Banxico’s first rate cut in the first half of 2024.
The poll shows “a great dispersion” for interest rates next year, between 8.0% and 10.25%, revealed Citibanamex.
The same survey revealed that economists foresee headline annual inflation at 4.00% and core at 4.06%, both readings for the next year, while the USD/MXN exchange rate is seen at 19.00, up from 18.95, toward the end of 2024

Technical Analysis: Mexican Peso loses strength though the USD/MXN bias remains bearish below the 200-day SMA

Even though the USD/MXN reached a new week high of 17.22, buyers barely cling to minuscule gains. The 20-day Simple Moving Average (SMA) is about to cross below the 100-day SMA, both at around 17.34, signaling the downtrend is gaining steam. If the pair drops below 17.05, the next support would be the 17.00 figure, ahead of challenging the year-to-date (YTD) low of 16.62.

Conversely, if buyers achieve a daily close above the November 21 high at 17.26, that would put into play a test of the confluence of the 20 and 100-day SMAs at 17.34. Further upside is seen at the 200-day SMA at 17.58.

Risk sentiment FAQs

In the world of financial jargon the two widely used terms “risk-on” and “risk off” refer to the level of risk that investors are willing to stomach during the period referenced. In a “risk-on” market, investors are optimistic about the future and more willing to buy risky assets. In a “risk-off” market investors start to ‘play it safe’ because they are worried about the future, and therefore buy less risky assets that are more certain of bringing a return, even if it is relatively modest.

Typically, during periods of “risk-on”, stock markets will rise, most commodities – except Gold – will also gain in value, since they benefit from a positive growth outlook. The currencies of nations that are heavy commodity exporters strengthen because of increased demand, and Cryptocurrencies rise. In a “risk-off” market, Bonds go up – especially major government Bonds – Gold shines, and safe-haven currencies such as the Japanese Yen, Swiss Franc and US Dollar all benefit.

The Australian Dollar (AUD), the Canadian Dollar (CAD), the New Zealand Dollar (NZD) and minor FX like the Ruble (RUB) and the South African Rand (ZAR), all tend to rise in markets that are “risk-on”. This is because the economies of these currencies are heavily reliant on commodity exports for growth, and commodities tend to rise in price during risk-on periods. This is because investors foresee greater demand for raw materials in the future due to heightened economic activity.

The major currencies that tend to rise during periods of “risk-off” are the US Dollar (USD), the Japanese Yen (JPY) and the Swiss Franc (CHF). The US Dollar, because it is the world’s reserve currency, and because in times of crisis investors buy US government debt, which is seen as safe because the largest economy in the world is unlikely to default. The Yen, from increased demand for Japanese government bonds, because a high proportion are held by domestic investors who are unlikely to dump them – even in a crisis. The Swiss Franc, because strict Swiss banking laws offer investors enhanced capital protection.

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-on-the-defensive-against-us-dollar-as-us-gdp-exceeds-forecasts-202311291530

Previous Post

GBP/USD holds gains above 1.2700 amid Fed divergent views

Next Post

US Dollar trades with mild gains after GDP revisions, PCE inflation data

I Spent $88.03 at American Science and Surplus – Milwaukee Magazine

I Spent $88.03 at American Science and Surplus – Milwaukee Magazine

July 8, 2025
Scientists burned, poked and sliced their way through new robotic skin that can ‘feel everything’ – Live Science

Scientists Test Revolutionary Robotic Skin That Can ‘Feel Everything’ Through Burning, Poking, and Slicing

July 8, 2025
Study of Environment, Lifestyle and Fibroids (SELF) – National Institute of Environmental Health Sciences (.gov)

Study of Environment, Lifestyle and Fibroids (SELF) – National Institute of Environmental Health Sciences (.gov)

July 8, 2025
Fluminense vs Chelsea LIVE on DAZN: Semi-final underway in New Jersey – dazn.com

Fluminense vs Chelsea LIVE on DAZN: Semi-final underway in New Jersey – dazn.com

July 8, 2025
Supply chain careers delivering high pay, purpose in a shifting economy – Supply Chain Management Review

Supply chain careers delivering high pay, purpose in a shifting economy – Supply Chain Management Review

July 8, 2025
Moses Singer Welcomes Entertainment and Intellectual Property Partner Frederick Bimbler – Yahoo Finance

Moses Singer Expands Team with New Entertainment and Intellectual Property Partner Frederick Bimbler

July 8, 2025
Kids’ health declined over the past 17 years: Study – Axios

Alarming Decline in Children’s Health Over the Past 17 Years Uncovered

July 8, 2025
Jeffrey Epstein died by suicide and there’s no ‘client list,’ Justice Department says – CNN

Justice Department Confirms Jeffrey Epstein Died by Suicide and Denies Existence of ‘Client List

July 8, 2025
AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

AI and the Trust Revolution: How Technology Is Transforming Human Connections – Foreign Affairs

July 8, 2025
Brewers chase All-Star Yoshinobu Yamamoto with 5 runs in 1st inning, hand Dodgers their 4th straight loss – Yahoo Sports

Brewers chase All-Star Yoshinobu Yamamoto with 5 runs in 1st inning, hand Dodgers their 4th straight loss – Yahoo Sports

July 8, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
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 (710)
  • Economy (736)
  • Entertainment (21,624)
  • General (15,781)
  • Health (9,773)
  • Lifestyle (741)
  • News (22,149)
  • People (736)
  • Politics (744)
  • Science (15,953)
  • Sports (21,234)
  • Technology (15,719)
  • World (717)

Recent News

I Spent $88.03 at American Science and Surplus – Milwaukee Magazine

I Spent $88.03 at American Science and Surplus – Milwaukee Magazine

July 8, 2025
Scientists burned, poked and sliced their way through new robotic skin that can ‘feel everything’ – Live Science

Scientists Test Revolutionary Robotic Skin That Can ‘Feel Everything’ Through Burning, Poking, and Slicing

July 8, 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