Mexican Peso extends gains as the USD/MXN nears 19.00
The post Mexican Peso extends gains as the USD/MXN nears 19.00 appeared on BitcoinEthereumNews.com.
The Mexican Peso extends its advance against the US Dollar, marking a fourth consecutive day of gains. US-China trade talks commence in London, lifting demand for emerging market currencies. USD/MXN suffers its fourth day of losses as prices move toward 19.00. The Mexican Peso (MXN) is strengthening against the US Dollar (USD) for a fourth straight session on Monday as broader market sentiment improves. The latest boost in risk appetite can be attributed to encouraging developments in US-China trade negotiations, which have helped ease global uncertainty. At the time of writing, USD/MXN is trading at 19.03, its lowest level since August last year, with price action heading toward the psychological support level of 19.00. Mexican Peso daily digest: US-China trade talks support emerging market currency pairs US and Chinese officials are meeting in London for two days of high-level trade talks aimed at easing tensions and restoring dialogue between the world’s two largest economies. The main focus is on China’s rare earth mineral exports and potential concessions on tech-related export controls for the US. Positive outcomes could lift risk sentiment and support the Peso, while failed talks may drive safe-haven flows into the US Dollar. Friday’s US Nonfarm Payrolls (NFP) report surprised to the upside, with the May labour market data showing 139,000 new jobs added, outperforming analyst expectations of a 130,000 increase. This stronger-than-expected print reinforced the resilience of the US economy and helped lift the US Dollar. However, easing tensions between the US and China continued to support risk assets, adding to USD/MXN weakness. Mexican Peso technical analysis: USD/MXN heads toward 19.00 After four straight days of losses, the USD/MXN exchange rate remains under pressure, stuck below the 20-day Simple Moving Average (SMA) around 19.30. This level is acting as dynamic resistance, capping any short-term recovery attempts. It’s…
Filed under: News - @ June 9, 2025 7:26 pm