Mexican Peso trims some weekly losses as USD/MXN stays virtually unchanged.
Mexico's Industrial Production contracts, underscoring economic challenges, while US producer prices suggest softening inflation.
Fed officials' comments on inflation and monetary policy decisions reflect a cautious optimism.
The Mexican Peso depreciated modestly against the US Dollar for the third straight trading session on Thursday, following a red-hot consumer inflation report on Wednesday. Further economic data from Mexico and the United States (US) keeps the exotic pair within familiar levels, though the downtrend remains intact. The USD/MXN trades at 16.43, virtually unchanged.
Mexico’s economic docket featured the release of Industrial Production for February. The monthly reading missed estimates and contracted. On a yearly basis, data expanded below estimates but surpassed January’s reading.
Across the border, the release of prices paid by producers showed that inflation cooled a little but remains stickier than expected on the annual core reading. Monthly readings showed that the disinflation process continues to show success.
In the meantime, Federal Reserve (Fed) officials crossed newswires. The New York Fed’s Williams and Richmond Fed’s Barkin mentioned that recent data was disappointing, while the Boston Fed’s Collins added that recent data argues against the imminent need to change rates.
