# Yields, Fed, and Banxico in Focus | Forex trading, free forex education | Forex.ca

> Forex.ca reported on October 28, 2021 that USD/MXN was holding near 20.30 pesos per dollar after failing to break below the 76.4% Fibonacci level at 20.18. The pair had earlier reached a seven-month high of 20.90. The analysis expects Banxico to continue its hiking cycle in November and sees the Fed meeting as the main driver for the pair.

- Date: 2021-10-28 · published 2021-10-28T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/44790-yields-fed-and-banxico-in-focus-forex-trading-free-forex-education-forex-ca
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Peso moves affect the local-currency cost of Mexican feed and meat purchases. Mexico is a major importer of U.S. corn and soybean meal, so sustained peso weakness could reduce its purchasing power at the margin.

## Sources

- forex.ca: https://www.forex.ca/yields-fed-and-banxico-in-focus/

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