# Mexican Peso weakens despite reporting solid economic growth

> The Mexican peso extended losses to a fourth straight day against the dollar, trading near 20.18 per USD after bouncing off a daily low of 20.00. Mexico's Q3 GDP beat estimates, but strong US ADP jobs data and robust US Q3 GDP lifted the dollar. Political uncertainty tied to judicial reform, including eight Supreme Court justices announcing resignations, also weighed on the peso.

- Date: 2024-10-30 · published 2024-10-30T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/28087-mexican-peso-weakens-despite-reporting-solid-economic-growth
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker peso makes US-origin feed commodities and Mexican imports effectively costlier for Mexican buyers and can shift Mexican corn import demand and pricing. Currency moves affect the landed cost of US corn and soymeal sold into Mexico.

## Read by commodity

- DXY: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-08 | [Mexican Peso dives on solid US data despite rising inflation](https://feedsoft.ai/events/17274-mexican-peso-dives-on-solid-us-data-despite-rising-inflation.md) | +0.3% | — |
| DXY | 2020-11-11 | [Brazil's real, Mexican peso hit by tepid economic data \| Financial Post](https://feedsoft.ai/events/50377-brazil-s-real-mexican-peso-hit-by-tepid-economic-data-financial-post.md) | -0.5% | -1.7% |
| DXY | 2016-11-18 | [Mexican peso falls despite rate hike, Fed action looms](https://feedsoft.ai/events/74115-mexican-peso-falls-despite-rate-hike-fed-action-looms.md) | +1.0% | +1.3% |
| DXY | 2026-08-26 | [Euro falls despite report signaling ECB rate hike](https://feedsoft.ai/events/18102-euro-falls-despite-report-signaling-ecb-rate-hike.md) | +0.4% | +1.6% |
| DXY | 2024-10-29 | [Rupiah Potentially Weakens Driven by US Economic Data](https://feedsoft.ai/events/28177-rupiah-potentially-weakens-driven-by-us-economic-data.md) | -0.2% | +2.1% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-declines-despite-posting-solid-gdp-data-202410301933

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.