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MEXICO: Peso Outperforming, Remains Lower This Week

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Despite the broad dollar strength to start the year, the Mexican peso is notably outperforming, with USDMXN tracking 0.85% lower on the session to 20.65. This further reverses the strong move higher earlier in the week, which saw the pair print a fresh cycle high above 20.90.
  • Sheinbaum’s upbeat rhetoric on the potential relationship with the Trump administration may be contributing, however, it is worth pointing out that USDMXN still resides around 1.5% higher on the week.
  • Support is found at the prior breakout level at 20.40, closely matching with the 20-day EMA.
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  • Despite the broad dollar strength to start the year, the Mexican peso is notably outperforming, with USDMXN tracking 0.85% lower on the session to 20.65. This further reverses the strong move higher earlier in the week, which saw the pair print a fresh cycle high above 20.90.
  • Sheinbaum’s upbeat rhetoric on the potential relationship with the Trump administration may be contributing, however, it is worth pointing out that USDMXN still resides around 1.5% higher on the week.
  • Support is found at the prior breakout level at 20.40, closely matching with the 20-day EMA.