- USD/MXN: Mexican Peso might appreciate a bit further in the short-run – MUFG
Noticias del mercado
2 noviembre 2023
USD/MXN: Mexican Peso might appreciate a bit further in the short-run – MUFG
The Mexican Peso showed another month of sizeable weakening in October. Economists at MUFG analyze MXN outlook.
Mexican Peso to weaken next year
The global risk-off mood keeps stronger USD, and therefore weaker MXN that might contaminate inflation. In such scenario, market does not expect any policy rate cut by Banxico at least until early next year.
Assuming no escalation of Israel-Hamas conflict, MXN might appreciate a bit further in the short-run. But on a quarterly basis, we keep our outlook for MXN weakening path next year due to concerns over a global economic slowdown amid tighter monetary policies for longer worldwide. Such a scenario might spark further risk-off mood, hitting the high MXN.
USD/MXN – Q4 2023 17.80 Q1 2024 17.90 Q2 2024 18.00 Q3 2024 18.10
Enfoque del mercado
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimerAbrir cuenta demo y página personal