Mexican peso at risk with US elections ahead. Forecast as of 30.05.2024

1 min read

Mexico has benefited most from the US-China trade wars by attracting production facilities from Asia. However, all good things come to an end at some point. The USDMXN downtrend is no exception. Let’s discuss the forex outlook and make a trading plan for USDMXN.

Weekly fundamental Mexican peso forecast

USDMXN is down 53% from its pandemic highs in 2020, but the economy and wages are growing as Chinese manufacturing moves to Latin America amid US protectionist policies. Money transfers from Mexicans working in the US add fuel to peso appreciation, which is the most effective carry-trade currency.

Even Banxico’s rate cut in March… Read full author’s opinion and review in blog of #LiteFinance

You May Also Like

More From Author

+ There are no comments

Add yours