Mexican Peso rallies as mixed US data hurts US Dollar prospects

• Mexican Peso recovers slightly, breaking three-day losing streak.
• Mexico’s wider April trade deficit and slower economic growth are reported by INEGI.
• Banxico minutes show division on rate cuts amid ongoing inflation, emphasizing commitment to price stability.
• US Durable Goods Orders beat expectations, but March’s figures are revised down heavily.

The Mexican Peso snapped three days of losses and climbed more than 0.10% against the US Dollar on Friday amid an improvement in risk appetite and softer-than-expected US data that weighed on the Greenback. At the time of writing, the USD/MXN trades at 16.69, down 0.17%.

Mexico’s National Statistics Agency (INEGI) revealed a wider-than-expected trade deficit in April. On Thursday, INEGI announced that the economy grew at a slower pace than foreseen, while inflation for the Mid-month was mixed.