Mexican Peso counterattacks amid resilient job market shrugs off upbeat US GDP

Mexican Peso (MXN) climbs against the US Dollar (USD) on Thursday, trimming some of the last two days' losses after economic data from Mexico showed t

Mexican Peso trims recent losses against the US Dollar after a weak start. Mexico's Unemployment Rate for September aligns with estimates, dipping to 2.9% from August's 3%. Banxico's Deputy Governor Jonathan Heath highlights concerns over the desynchronization between monetary and fiscal policy in 2024. he labor market remains tight, portraying a resilient economy.

46, exacerbating the ongoing pullback to current exchange rates. If sellers want to re-test the psychological 18.00 figure, they must reclaim the 20-day Simple Moving Average at 18.06. On the other hand, if the pair finds support at around 18.20, that could keep buyers hopeful of challenging October’s high 18.48, ahead of 18.50. Mexican Peso FAQs What key factors drive the Mexican Peso? The Mexican Peso is the most traded currency among its Latin American peers.

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