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The Mexican peso recovered after softer-than-expected US core PCE inflation data, which supported expectations of Fed rate cuts. USD/MXN fell to 18.34, while the peso was still under pressure from unwinding carry trades and weaker Mexican data.
A firmer peso lowers the cost of US feed imports for Mexican buyers, which supports demand. Gains are likely to be capped by the carry-trade unwind and Mexico's weak economic data.
fxstreet.comJoaquin MonfortJul 26, 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.
