USD/MXN recovers its recent losses recorded in the previous session. US Dollar appreciates despite weaker US Treasury yields. Banxico is expected to reduce the interest rate by 25 bps at Thursday’s meeting. USD/MXN retraces its recent losses and moves higher to near 16.80 during Wednesday's European trading hours. The US Dollar gains ground, despite weaker US Treasury yields, which in turn, bolsters the USD/MXN pair. The US Dollar Index rises to near 104.
425 million and marking a notable increase from the preceding 1.374 million. In the fourth quarter of 2023, Private Spending on the Mexican side witnessed a 5.1% increase, up from the previous 4.3% rise. However, the quarter-over-quarter report indicated a 0.9% increase, slightly below the previous 1.2% uptick. Market focus will shift to Retail Sales figures from Mexico, scheduled for Wednesday.