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MXN
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USD/MXN Update: The Mexican Peso Holds Amid Temporary Tariff Suspension
After a long session of indecision in USD/MXN movements, during which the pair surged by more than 4%, the Mexican peso has managed to recover nearly all of its losses and remains in a neutral zone against the U.S. dollar.
![Graphic of trading data chart](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/charts6v2.jpg?h=300&w=1170&hash=79065A765381BF99AAA24A7A48E0DF53)
USD/MXN Outlook: The Mexican Peso Retreats Due to Tariff Threats
It has been a challenging start to the week for the Mexican peso, as USD/MXN has risen by more than 1.5%, favoring the U.S. dollar in the short term.
![Close-up of market chart](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/charts1.jpg?h=300&w=1170&hash=F7DDF589AD3F07D948F1EA0E9C51AF9E)
USD/MXN Forecast: The Mexican Peso Recovers Slightly After CPI
Over the past three sessions, USD/MXN declined by more than 2%, benefiting the Mexican peso.
![Gold trading](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/gold1v2.jpg?h=300&w=1170&hash=B98D930689CEA2D3E61ACC928D90E395)
Gold forecast: Metal declines but outlook positive
Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here
![Gold trading](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/gold1v2.jpg?h=300&w=1170&hash=B98D930689CEA2D3E61ACC928D90E395)
Gold forecast: Metal declines but outlook positive
Our longer-term gold forecast remains positive, owing to the fact global monetary policy can only start to loosen from here
![Board of currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex8.jpg?h=300&w=1170&hash=DB35F019F2F5DFC06204C6ABEA507BAD)
Mexico’s data off to a bad start after latest Banxico meeting: USD/MXN
If inflation continues to fall in Mexico over the next month, and economic data is weak, Banxico will have a tough time justifying higher rates
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Currency Pair of the Week: USD/MXN
If Banixco continues to be more hawkish than the FOMC, USD/MXN could continue lower
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Don’t forget about Banxico on Thursday
Banxico is expected to leave rates unchanged after a year and a half of easing rates from mid-2019 to March of this year
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Banxico Preview: Higher inflation, but can they leave rates unchanged?
Mexico’s inflation rate for April was 6.08%, the highest since December 2017
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Mexico: Poor economic data and higher inflation
If the trend continues, Banxico will have a problem
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Mexican inflation expected to heat up
If the inflation data is much stronger than expected, USD/MXN may continue moving lower
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Stronger US rates and weaker stocks push USD/MXN higher
As a result of risk off, emerging markets currencies also took a hit.
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
[VIDEO] USD/MXN bucking the trend
If USD/MXN can clear the 20.5850 area, bulls will be looking to push this currency pair up to 21.9350!
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
Currency pair of the week: USD/MXN
The Bank of Mexico meets this week and there is a possibility they may cut rates
![Bank notes of different currencies](/en-au/-/media/research/global/news-analysis/featured-image/2021/03/forex2v2.jpg?h=300&w=1170&hash=6467A03B9A0E4384BE03CDC61F9AEBC5)
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Banxico’s Turn!
USD/MXN may already be on its way to new highs!