- The USD/MXN pair rose today as investors reacted to plunging crude oil prices.
- Data from Mexico showed that retail sales contracted in March while inflation slowed in May.
- Other oil currencies like the Canadian dollar and Mexican peso have also weakened.
Features & analysis
Can USD/MXN Hit Multi-Year Lows This Year?
Following the U.S. Senate’s approval of the United States-Mexico-Canada Agreement (USMCA) trade deal, Mexico export companies expect a record year. As a result, USD/MXN printed a fresh 1-year low $18.65. Fundamental analysis: USMCA to boost economy Auto part manufacturers are expecting regional input to increase substantially although the new rules targeting car makers are stricter than before. “It’s good news because this...