SGD/MXN Price & Performance (SGDMXN)

The Mexican Peso weakened further against the US Dollar, driven by economic data showing a slowing economy and ongoing disinflation. Traders are closely watching Banxico’s upcoming decision, with expectations of a rate cut to 9%. Retail sales showed improvement in January, but broader economic indicators remain subdued.12

The Mexican Peso continues to face challenges as US tariff threats and economic concerns persist. Market sentiment remains cautious, with the OECD projecting a potential recession in Mexico if tariffs are implemented. Banxico’s rate decision and upcoming trade data will be critical for the Peso’s trajectory.34

The USD/MXN pair has been trading within a narrow range, reflecting uncertainty in market sentiment. While the Peso has shown resilience near key support levels, technical indicators suggest limited momentum for either buyers or sellers. Traders remain focused on potential tariff developments and central bank actions.56