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The Mexican peso rose for a second day against the U.S. dollar and was expected to post a weekly gain of 0.89%, thanks to improved risk appetite and better-than-expected Mexican economic data. At the time of writing, USD/MXN is trading at 19.52, down 0.32%.
Wall Street closed higher on Friday despite conflicting comments from U.S. President Donald Trump on China. Overnight news from U.S. traders indicated that Beijing was willing to reduce tariffs on U.S. goods. Still, Trump said he would not reduce tariffs unless “they give us something substantial.”
Mexico’s economy grew in February, the National Institute of Statistics and Geography (INEGI) revealed, defying expectations for a modest expansion.
Meanwhile, in the United States, the University of Michigan (UoM) consumer sentiment index deteriorated sharply in April to its fourth lowest level since the late 1970s, indicating that Americans are less confident about the economic outlook.
As a result, USD/MXN fell slightly, supported by Mexican economic data. Next week, however, INEGI will release its gross domestic product (GDP) growth rate for the first quarter of 2025. A negative reading would confirm that the economy is in a technical recession.
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