Mexican Peso Ends Week Higher as Markets Await News from Ebrard’s U.S. Meeting

Quick overview

The Mexican peso appreciated against the dollar at the end of the week, reaching its strongest level since September of last year. The rally was fueled by a better-than-expected U.S. jobs report that lifted investor sentiment.

The exchange rate closed at 19.1054 pesos per dollar, according to official data from the Bank of Mexico (Banxico). Compared to Thursday’s rate of 19.1493, the move represented a gain of 4.39 centavos, or 0.23%.

Throughout the day, the dollar traded in a range between a high of 19.2210 and a low of 19.0962 pesos. Meanwhile, the U.S. Dollar Index (DXY) — which measures the greenback against a basket of six major currencies — rose 0.46% to 99.19.

USD/MXN

U.S. nonfarm payrolls increased by 139,000 in May, exceeding analyst expectations, although the figure was slightly below April’s 147,000. The unemployment rate remained steady at 4.2%.

The Mexican Peso Remains Strong

Despite a week filled with key trade-related headlines, the Mexican peso maintained positive momentum, supported in part by a weaker dollar. Compared to last Friday’s official close of 19.3957, the peso gained 29.03 centavos — a weekly appreciation of 1.50%.

Investor attention is now focused on the outcome of a meeting between Mexico’s Secretary of Economy, Marcelo Ebrard, and U.S. officials, where discussions are expected to center on tariffs imposed by Washington on steel and aluminum.

Ignacio Teson

Economist and Financial Analyst

Ignacio Teson is an Economist and Financial Analyst. He has more than 7 years of experience in emerging markets. He worked as an analyst and market operator at brokerage firms in Argentina and Spain.

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