Daily digest market movers: Mexican Peso weighed down by weak Mexican data, Fed decision
- USD/MXN would continue to be driven by market mood and expectations for a bigger Fed rate cut.
- Mexico’s Aggregate Demand in Q2 shrank -0.4%, below the previous reading of 1.2%. Private Spending in the second quarter plunged by 0.6% and trailed Q1’s expansion by 1.8%.
- US Building Permits in August grew by 4.9% MoM from 1.406 million to 1.475 million.
- Housing Starts expanded by 9.6% and rose from 1.237 million to 1.356 million.
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