# USD/MXN sideways around 19.00, still near 3-month lows — Octa

> The Mexican peso traded sideways near 19.00 per US dollar after a brief dollar rebound failed, with USD/MXN hitting a two-day high of 19.08 before pulling back. Markets were awaiting the Federal Reserve decision, where a more dovish tone was expected, and the Banxico meeting the following week, with the key rate at 8.25%.

- Date: 2019-01-29 · published 2019-01-29T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/61300-usd-mxn-sideways-around-19-00-still-near-3-month-lows-octa
- 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 weaker dollar and firmer emerging-market currencies tend to support dollar-denominated feed commodity prices in import markets like Mexico, while a dovish Fed reduces pressure on EM funding costs. The impact on grain prices is modest given the low-volatility session.

## Read by commodity

- DXY: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-07-29 | [USD/JPY seen lower at 102.00 in next two months – Scotiabank — Octa](https://feedsoft.ai/events/52348-usd-jpy-seen-lower-at-102-00-in-next-two-months-scotiabank-octa.md) | +0.4% | -0.4% |
| DXY | 2025-06-27 | [USD/MXN extends losses and nears the 11-month low, at 18.82](https://feedsoft.ai/events/24442-usd-mxn-extends-losses-and-nears-the-11-month-low-at-18-82.md) | -0.3% | +0.3% |
| DXY | 2025-06-26 | [AUD/USD reclaims seven-month high around 0.6550 as US Dollar slides further — Octa](https://feedsoft.ai/events/24492-aud-usd-reclaims-seven-month-high-around-0-6550-as-us-dollar-slides-further-octa.md) | -0.9% | -0.6% |
| DXY | 2021-08-31 | [USD/CAD hangs near two-week lows, below 1.2600 mark ahead of Canadian GDP — Octa](https://feedsoft.ai/events/45795-usd-cad-hangs-near-two-week-lows-below-1-2600-mark-ahead-of-canadian-gdp-octa.md) | -0.2% | +0.9% |
| DXY | 2019-12-31 | [USD/JPY consolidates near three-week lows, around 108.70 - Forex Crunch](https://feedsoft.ai/events/55797-usd-jpy-consolidates-near-three-week-lows-around-108-70-forex-crunch.md) | +0.2% | +0.6% |

## Sources

- octabroker.com: https://www.octabroker.com/markets/news/view/661263/

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