# Mexican Peso recoups earlier losses vs USD after US growth slows

> The Mexican peso recovered earlier losses against the US dollar after the second estimate of US Q1 GDP growth was revised down to 1.3% from 1.6%. USD/MXN fell to about 16.95 from above 17.00. Mexican unemployment rose to 2.6% in April.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/30481-mexican-peso-recoups-earlier-losses-vs-usd-after-us-growth-slows
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Weaker US growth raises expectations of Fed rate cuts, which tends to weaken the dollar and strengthen the peso. A stronger peso lowers the local-currency cost of imported feed ingredients for Mexican buyers.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-pesos-days-in-the-sun-are-over-say-analysts-202405301024

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