Mexican Peso Down on Commodities and U.S. Unemployment
This Thursday was marked by a weak performance for the Mexican currency as the crude oil, one of the main Mexican exports to the U.S. declined further, and jobless claims in the U.S. came with worse-than-expected figures.
The United States is the country of destination for 80% of Mexican export products, and as unemployed people applied for benefits last week more than forecasts suggested, the Mexican peso was influenced negatively,. Crude oil rates also influenced negatively for the peso’s outlook, since Mexico is a large oil producer.
USD/MXN traded at 13.65 as of 17:15 GMT from an opening rate of 13.51 today.
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Earlier News About the Mexican Peso:
- Mexican Peso Decline on U.S. Jobless Claims (2009-09-17)
- Mexican Peso Declines on U.S. Trade Dispute (2009-09-14)
- Mexican Peso Drops on Political Crisis (2009-09-12)
- Mexican Peso Extends Gains on Optimism (2009-09-08)
- Mexican Peso Climbs on U.S. Employment Data (2009-09-04)
