Mexican Peso Holds Steady Ahead of Key Data and U.S.-China News
The exchange rate is expected to remain within a range of 19.52 to 19.66, as investor interest in the peso remains limited
Quick overview
- The Mexican peso closed nearly unchanged against the dollar, ending the day at 19.5755 pesos per dollar.
- Traders are cautious ahead of key economic data releases, particularly GDP figures for Mexico and the U.S.
- The peso's recent rally has stalled due to a lack of new developments in U.S.-China trade relations.
- The exchange rate is expected to remain within a range of 19.52 to 19.66 as investor interest remains limited.
Live USD/MXN Chart
The Mexican peso closed virtually unchanged against the dollar in Tuesday’s session, as traders remained cautious ahead of key economic data releases and developments in U.S.-China trade relations.
The exchange rate ended the day at 19.5755 pesos per dollar, compared to Monday’s official close of 19.5784, according to data from the Bank of Mexico (Banxico). This represented a marginal gain of 0.02% for the peso—less than one cent.
During the session, the dollar traded within a range of 19.6506 to 19.5461 pesos. Meanwhile, the U.S. Dollar Index (DXY)—which measures the greenback against a basket of six major currencies—rose 0.27% to 99.20.
Mexican Peso Outlook and GDP Figures
Investors are closely watching for the release of important economic indicators, particularly the GDP figures for both Mexico and the United States due on Wednesday. These results are expected to provide insight into the impact of U.S. tariffs.
Some analysts have forecast a contraction in Mexico’s GDP during the first quarter. However, stronger-than-expected data from the Global Indicator of Economic Activity (IGAE) have cast doubt on just how resilient the Mexican economy may be.
The peso’s recent rally has stalled in the absence of fresh news on U.S.-China trade talks, despite signs that Washington is considering tariff reductions on auto parts and trucks.
Looking ahead to the overnight session, the exchange rate is expected to remain within a range of 19.52 to 19.66, as investor interest in the peso remains limited ahead of Wednesday’s first-quarter GDP reports.
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