- The Mexican Peso is on track for a 0.89% weekly increase, buoyed by surprisingly robust economic performance.
- Conflicting statements from Trump regarding tariffs introduce uncertainty, yet emerging market currencies benefit from increased risk tolerance.
- Market participants await Mexico’s first-quarter GDP figures next week to assess potential recessionary pressures.
The Mexican Peso strengthened further against the US Dollar for the second straight day and is on pace to conclude the week with a 0.89% rise, supported by increased risk appetite and Mexican economic figures that surpassed expectations. Currently, the USD/MXN is trading at 19.52, reflecting a 0.32% decrease.
Wall Street concluded Friday’s trading session with gains, despite US President Donald Trump’s inconsistent comments concerning China. News emerging overnight indicated Beijing’s openness to decreasing tariffs on goods from the US. However, Trump stated he would not reduce tariffs unless “they give us something substantial.”
The National Institute of Statistics and Geography (INEGI) reported that the Mexican economy experienced growth in February, defying projections that anticipated only a slight increase.
