24 Jun 2015
USD/MXN rises to test 15.50
FXStreet (Córdoba) - The Mexican peso dropped again versus the US dollar and posted the lowest daily close since June 9. USD/MXN traded momentarily below 15.400 but then as greenback gained momentum across the board, price rose toward 15.50.
The pair peaked at 15.495 and then pulled back modestly, ending the US session hovering around 15.48, 2.10% above last week lows.
Between US and Mexican data
The Greek crisis dominated the scenario on Wednesday. In the US, the third estimate of 1Q GDP showed that the economy contracted 0.2%, less than previously informed and in line with expectations. In Mexico the inflation rose 0.13%, slightly above expectations (0.12%) during the first half of June. The annual rate dropped modestly to 2.87% from 2.88%, remaining below the 3% target. The statistics agency also reported that economic activity rose 0.7% in April, after a 0.5% decline in May.
Tomorrow in the US there will be many economic reports, including jobless claims and personal spending while in Mexico the next numbers will be the trade balance and the unemployment rate on Friday.
The pair peaked at 15.495 and then pulled back modestly, ending the US session hovering around 15.48, 2.10% above last week lows.
Between US and Mexican data
The Greek crisis dominated the scenario on Wednesday. In the US, the third estimate of 1Q GDP showed that the economy contracted 0.2%, less than previously informed and in line with expectations. In Mexico the inflation rose 0.13%, slightly above expectations (0.12%) during the first half of June. The annual rate dropped modestly to 2.87% from 2.88%, remaining below the 3% target. The statistics agency also reported that economic activity rose 0.7% in April, after a 0.5% decline in May.
Tomorrow in the US there will be many economic reports, including jobless claims and personal spending while in Mexico the next numbers will be the trade balance and the unemployment rate on Friday.