Convert AUD to MXN
The AUD/MXN currency pair sees price action on the release of important economic data from Australia and Mexico, including GDP, inflation, employment, retail sales, trade balance, industrial production, business sentiment and consumer confidence. In addition, the release of crude inventories' data from the US also has an impact on the value of the MXN, and can drive moves in this currency pair.
Whenever the Reserve Bank of Australia (RBA) or the Banco de Mexico announce changes to the monetary policy or interest rates, it causes changes to the value of the AUD or MXN respectively, and as a result, causes changes in the exchange rate of AUD/MXN. For instance, if the RBA hikes interest rates or tightens its monetary policy, the AUD strengthens and turns this pair bullish, and vice versa.
The AUD/MXN forex pair touched a high of 16.3456 on 4 August 2020. This was the strongest level this pair touched so far this year.