The Mexican peso increased by 0.2% amid positive domestic economic data, including a decrease in the unemployment rate to 2.5% in October, marking its lowest level since March.
Despite today's gains, the Mexican economy faces significant challenges, including a high underemployment rate of 9.4% and informality affecting 54.1% of the workforce, indicating structural issues.
External factors, particularly U.S. market volatility and potential tariffs hinted at by President-elect Trump, introduce additional pressure on the Mexican peso despite current domestic strength.
Traders remain cautious, with upcoming U.S. Non-Farm Payrolls data being critical; a stronger than expected report could lead to renewed stress on the MXN.
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