Forex News

The trading scenario this Thursday was entirely against the Mexican currency, which faced worse-than-expected data coming from the U.S., its main trading partner, and a strong sentiment of pessimism as European public accounts are deteriorating.

After a U.S. employment showed an increase in new jobless claims beyond forecasts, the Mexican peso fell for another day, as the crude oil, one of its main exports, fell after market sentiment deteriorated globally, and specially in Eurozone as some of its members are having a hard time to adjust their budget deficits, affecting indirectly appeal for emerging market currencies.

USD/MXN closed at 13.072 from an opening rate of 12.948 this Thursday.

If you want to comment on the Mexican peso’s recent action or have any questions regarding this currency, please, feel free to reply below.

Earlier News About the Mexican Peso:

• Mexican Peso Extends Rally on U.S. Recovery (2010-01-05)
• Mexican Peso Up as Stocks Hit Record High (2009-12-03)
• Mexican Currency Up on Domestic Reports (2009-11-26)
• Mexican Peso Advances on Fitch Ratings Cut (2009-11-24)
• Mexican Peso Advances as Rates Won't Be Cut (2009-11-18)

This entry was posted on Friday, February 5th, 2010 at 2:51 am and is filed under Mexican Peso. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.