# Mexican Peso falls despite higher inflation, diminishing hopes for Banxico cut

> The Mexican peso weakened about 0.7% against the dollar after Mexico's mid-April CPI came in mixed, with headline inflation above expectations and core inflation softer. Strong US durable goods orders and rising Treasury yields supported the dollar.

- Date: 2024-04-24 · published 2024-04-24T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/30950-mexican-peso-falls-despite-higher-inflation-diminishing-hopes-for-banxico-cut
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Mixed inflation reduces the chance of a Banxico rate cut, while a stronger dollar raises the peso cost of US feed imports. Dollar strength is a mild negative for dollar-denominated grain and meal prices.

## Read by commodity

- DXY: bullish ▲
- USDMXN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-10-08 | [Mexican Peso dives on solid US data despite rising inflation](https://feedsoft.ai/events/17274-mexican-peso-dives-on-solid-us-data-despite-rising-inflation.md) | +0.3% | — |
| DXY | 2016-11-18 | [Mexican peso falls despite rate hike, Fed action looms](https://feedsoft.ai/events/74115-mexican-peso-falls-despite-rate-hike-fed-action-looms.md) | +1.0% | +1.3% |
| DXY | 2022-02-10 | [Hot inflation fuels case for 'big-bang' Fed rate hike in March](https://feedsoft.ai/events/42644-hot-inflation-fuels-case-for-big-bang-fed-rate-hike-in-march.md) | -0.1% | +1.7% |
| DXY | 2018-04-11 | [Fed minutes: 'All' members see higher GDP and inflation, and more rate hikes](https://feedsoft.ai/events/65431-fed-minutes-all-members-see-higher-gdp-and-inflation-and-more-rate-hikes.md) | -0.3% | +3.4% |
| DXY | 2024-12-12 | [Dollar higher on fresh inflation data, euro lower after ECB rate cut](https://feedsoft.ai/events/27173-dollar-higher-on-fresh-inflation-data-euro-lower-after-ecb-rate-cut.md) | +0.6% | +2.4% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-declines-amid-mixed-inflation-data-strong-us-economic-report-202404241643

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