The Mexican Peso appreciated against the US Dollar, with USD/MXN declining 1.14% to 19.69, driven by a weakening US Dollar and positive sentiment following a phone call between US President Donald Trump and Mexican President Claudia Sheinbaum. Both leaders characterized the call as “very productive,” mitigating immediate concerns regarding potential tariff increases. The US Dollar weakened following President Trump’s criticism of the Federal Reserve’s delayed interest rate cuts, citing declining oil and grocery prices. Mexican markets are currently closed for Easter holidays. Next week’s economic calendar includes the release of Retail Sales, mid-month inflation data for April, and Economic Activity figures. To date, Mexico has avoided additional tariffs beyond those implemented on March 4, which included 25% duties on various imports. On April 14, a 21% tariff was imposed on tomatoes.
