# Mexican Peso climbs against US Dollar as traders await US GDP data

> The Mexican peso gained modestly against the dollar as the DXY index weakened for a second day, with USD/MXN trading near 17.05. Mexico reported a January trade deficit of $302 million, and traders are pricing possible Banxico rate cuts.

- Date: 2024-02-27 · published 2024-02-27T12:00:00.000Z
- Category: market · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/31889-mexican-peso-climbs-against-us-dollar-as-traders-await-us-gdp-data
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firmer peso on a weaker dollar makes dollar-priced grain and meal imports cheaper for Mexican feed buyers, a marginal support for their import demand.

## Read by commodity

- DXY: bearish ▼
- USDMXN: bearish ▼

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-edges-higher-against-us-dollar-despite-speculation-of-banxico-policy-shift-202402271728

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