Mexico’s Pesos Grab a Quick Breather – Still, the Storm’s on the Horizon
Short‑term spike – The Mexican peso nudged up 0.2 % today, fueled by both home‑grown relief and global hiccups.
Domestic Good News
- Unemployment dipped to 2.5 % in October, the lowest since March.
- INEGI reports a drop of 142,000 unemployed people versus last year.
- The workforce swelled by 317,000, now a juicy 61.4 million.
- Still, 9.4 % of workers are under‑employed and over half of the labor market (54.1 %) is informal.
Global Shake‑ups
Behind the scenes, the U.S. dollar shed some momentum after President‑elect Donald Trump hinted at tariffs on BRICS nations pushing “de‑dollarization.” That rattled markets and left the peso in a pretty tense spot.
Mexico’s trade chemistry with the U.S.—and Trump’s protectionist vibes—set the stage for a tighter trading environment.
Risks Still Brewing
- Growth remains modest; inflation, while tamed, still stirs unease.
- The much‑anticipated U.S. Non‑Farm Payrolls (NFP) release could jolt the peso if jobs top the 200,000‑job benchmark.
So, while the peso’s tiny lift is welcome, gremlins in the market may still loom large. Keep your eyes on the NFP and the dollar’s mood to see how this story unfolds.
