# Mexican Peso tanks as USD/MXN clears 20.00 ahead of GDP data

> The Mexican peso fell past 20.00 per USD, trading at 20.02, as polls showed Trump's chances of winning the US election rising to 52%. Mexico's recent data showed economic slowdown, with weak retail sales and economic activity, while Q3 GDP was due that week.

- Date: 2024-10-28 · published 2024-10-28T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/28091-mexican-peso-tanks-as-usd-mxn-clears-20-00-ahead-of-gdp-data
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Expectations of Trump tariffs on Mexican imports pressure the peso, which raises the cost of US feed ingredients for Mexican buyers. Weak Mexican data also points to possible Banxico rate cuts, adding to currency pressure.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-slips-past-2000-on-economic-slowdown-us-election-fears-202410281759

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