USD/MXN aims to retreat from the recent gains, trading lower around 18.0000 during the Asian session on Wednesday. The pair faces challenges after the
Mexican Peso retreats from the recent gains on upbeat US data. Upbeat China data could contribute to underminingthe US Dollar. Mexican Retail Sales in August anticipates stagnation at 0.0%. release of upbeat data from the United States on Tuesday. The US Bureau of Economic Analysis revealed that Retail Sales surpassed expectations of 0.3% MoM, rising to 0.7% in September. Additionally, the Retail Sales Control Group recorded a notable increase of 0.6%, compared to the previous hike of 0.2%.
This perspective aligns with the dovish stance maintained by several other Fed officials. The USD/MXN pair is influenced by USD price dynamics and overall risk sentiment as there are no economic data releases from Mexico. Additionally, the escalating geopolitical tensions between Israel and Hamas could limit the downside of the pair and bolster the US Dollar as a safe-haven asset.
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