# Mexican Peso Gains on Banxico Rate Hold, Sending USD/MXN Towards Key Support | Forex trading, free forex education | Forex.ca

> The Mexican peso gained after Banxico held rates steady, pushing USD/MXN toward trendline support. Wall Street rose on a better-than-expected jobless claims report and the Suez Canal blockage was disrupting energy flows.

- Date: 2021-03-25 · published 2021-03-25T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/48327-mexican-peso-gains-on-banxico-rate-hold-sending-usd-mxn-towards-key-support
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A firmer peso after the rate hold trims Mexican feed import costs, while the Suez disruption adds freight and energy cost uncertainty for grain and oilseed shipments.

## Read by commodity

- WTI: neutral
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-04-01 | [How Japan Can Use the Oil Market to Support the Yen](https://feedsoft.ai/events/20404-how-japan-can-use-the-oil-market-to-support-the-yen.md) | -6.6% | +6.7% |
| WTI | 2026-07-29 | [ING Says Dollar to Take Cue from Oil Prices If Fed Holds Rate \| Financial Post](https://feedsoft.ai/events/18262-ing-says-dollar-to-take-cue-from-oil-prices-if-fed-holds-rate-financial-post.md) | -4.4% | +3.8% |
| WTI | 2019-07-31 | [Posthaste: Some oilsands mines breakeven at $10, S&P cuts Canadian GDP forecast and why the Fed is cutting rates - Financial Post](https://feedsoft.ai/events/58340-posthaste-some-oilsands-mines-breakeven-at-10-s-and-p-cuts-canadian-gdp.md) | -7.6% | -5.3% |
| WTI | 2021-09-30 | [Why are gas prices on the rise and what does this mean for Singapore? - CNA](https://feedsoft.ai/events/45222-why-are-gas-prices-on-the-rise-and-what-does-this-mean-for-singapore-cna.md) | +3.5% | +10.2% |
| WTI | 2019-10-21 | [Loonie rallies to three-month high as Canadians vote in general election](https://feedsoft.ai/events/56797-loonie-rallies-to-three-month-high-as-canadians-vote-in-general-election.md) | +5.2% | +7.1% |

## Sources

- forex.ca: http://www.forex.ca/mexican-peso-gains-on-banxico-rate-hold-sending-usd-mxn-towards-key-support/

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