# Mexican Peso traders look to busy week for the currency’s main peers — Octa

> The Mexican Peso traded between small gains and losses on September 30 after falling about 1.5% against its major peers the previous week. Banxico's 25bp rate cut to 10.50%, a downward revision to growth forecasts, and a record trade deficit of $4.868 billion in August weighed on the currency, with US election risk adding pressure.

- Date: 2024-09-30 · published 2024-09-30T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/28535-mexican-peso-traders-look-to-busy-week-for-the-currency-s-main-peers-octa
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Persistent peso weakness raises the cost of dollar-priced grain and meal imports for Mexican buyers, which can temper demand for US corn and soymeal at the margin.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- octaafrica.net: https://www.octaafrica.net/markets/news/view/1119570/

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