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The peso recovered some ground against the dollar after the Fed's preferred core PCE inflation gauge came in below expectations. USD/MXN fell about 1% to 19.64 as the new Mexican Congress took office.
Investors remained cautious over judicial reform and Banxico's downward growth revisions.
A firmer peso lowers the local-currency cost of dollar-priced feed imports into Mexico. Expectations of Fed rate cuts also tend to support broader commodity prices.
fxstreet.comChristian Borjon ValenciaAug 30, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
