# Mexican Peso trades sideways despite Mexico’s upbeat data, ahead of Fed’s decision: Analytics and Market news from 31 October 2023 16:19

> The Mexican peso traded roughly sideways against the US dollar on Tuesday, staying above the 18.00 level, as month-end flows and geopolitical risk weighed. INEGI data showed Mexico's economy grew more than expected in the third quarter, extending growth to eight straight quarters, though the annual pace slowed.

- Date: 2023-10-31 · published 2023-10-31T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/33834-mexican-peso-trades-sideways-despite-mexico-s-upbeat-data-ahead-of-fed-s
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A weaker peso against the dollar makes Mexican imports of US feed grains and meal more expensive in local currency, which can dampen Mexican buying interest at the margin.

## Read by commodity

- USDMXN: bullish ▲

## Sources

- teletrade.org: https://www.teletrade.org/analytics/market-analysis/market-news/3914803

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