The post Mexican Peso struggling to reverse Thursday’s losses on the last trading day of 2023 appeared on BitcoinEthereumNews.com.

The Mexican Peso is rebounding from Thursday’s US session backslide. Mexico’s government budget balance to wrap up economic calendar for 2023. US data continues to print in the red, US Chicago PMI misses the mark. The Mexican Peso (MXN) is back on the rise for the last trading day of 2023, recovering modestly after a late-day topside break in the US Dollar on Thursday sparked by a broad-market pause in risk appetite after US Treasury yields briefly spiked. A late-Friday reversal pulled the US Dollar (USD) back into the high side just ahead of the year’s closing bell, but the USD still remains firmly embedded in bear country. Market risk sentiment recovered on Friday, dragging the MXN back into familiar levels to wrap up the 2023 trading year. After Friday’s MXN Fiscal Balance, economic data from Mexico will be on pause until Mexico’s Consumer Confidence figures print on January 8. US economic calendar figures broadly missed the mark on Thursday, and the trend continued into Friday after the US Chicago Purchasing Managers’ Index (PMI) declined in December, slipping back from an 18-month high in November as a global economic slowdown continues to loom ahead. Daily digest market movers: Mexican Peso squeezing back into the top end to wrap up the year The Mexican Peso is recovering from Thursday’s backslide, sticking close to the high side against the US Dollar as broad market sentiment holds steady. US data continues to miss the mark, but investors continue to focus solely on whatever will kickstart a rate-cutting cycle. The US Chicago Purchasing Managers’ Index (PMI) declined to 46.9 in December, falling back from November’s 18-month high of 55.8 and passing straight through the median forecast of 51.0. Softening economic conditions in the US continue to bolster market hopes of an accelerated pace of rate…

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Filed under: News - @ December 30, 2023 1:36 pm