Skip to content USDMXN Climbs as Eight Mexican Judges Resign
In October, the Mexican peso fell to more than 20.1 against the US dollar, reaching its lowest point since September of the previous year. This decline occurred as investors evaluated political events in Mexico and the United States and recent economic reports from within Mexico.
The USD/MXN 4-hour price chart below demonstrates the price, support, and resistance levels.
Judicial Changes Loom as Mexico’s Court Faces Shift
There’s growing uncertainty as eight judges from the Mexican Supreme Court are expected to step down. This has raised concerns about potential changes in the judiciary and the increasing influence of the ruling Morena party.
Furthermore, the possibility of Donald Trump winning the upcoming US election is causing concern in the markets, considering his previous administration’s strict policies on US-Mexico relations, including the suggestion of higher tariffs.
Mexico’s Q3 Growth Surges to 1%
On a brighter note, Mexico’s economy showed significant improvement in the third quarter, growing by 1% from the previous quarter, which is higher than the anticipated 0.8% and the fastest since the second quarter of 2023. This strong economic performance might allow the Bank of Mexico to reduce interest rates, helping slightly manage inflation.
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