MEXICAN PESO STABILIZES AFTER WEAK DATA AND BANXICO COMMENTS TRIGGER SELL-OFF
- The Mexican Peso steadies after Monday’s depreciation.
- The Peso suffered after weak Mexican consumer confidence data and central banker comments weighed.
- US inflation data could cause market volatility if results are unexpected.
The Mexican Peso (MXN) fell over 1.20% in its most traded pairs on Monday after a combination of weak Mexican Consumer Confidence data for July, dovish comments from Mexico’s central bank governor and rising geopolitical concerns weighed.
The Peso is seesawing between mild gains and losses during early trading on Tuesday after a tepid Asian session, which saw confidence return to Japanese stocks, with the Nikkei 225 regaining all the losses from last week’s sell-off.
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