Quick overview

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The Mexican peso weakened slightly against the U.S. dollar on Tuesday, giving up some ground after briefly appreciating to around 19.18 per dollar — levels not seen since early October.

The move came as market sentiment improved amid easing global trade tensions.

The exchange rate closed the session at 19.2683 pesos per dollar, compared to 19.2359 in the previous session, according to official data from the Bank of Mexico (Banxico). This marks a modest depreciation of 3.24 centavos, or 0.17%.

During the day, the dollar traded between a high of 19.2869 and a low of 19.1824 pesos. Meanwhile, the U.S. Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, gained 0.61% to 99.59 points.

Trade Tensions Ease

U.S. President Donald Trump announced Sunday that new tariffs on the European Union would be postponed until July 9. On Tuesday, he welcomed the EU’s decision to open trade talks with the White House, describing it as a positive step. The news helped lift sentiment in global markets.

All Eyes on the Fed and Banxico Minutes

Traders are now closely watching the upcoming release of the Federal Reserve’s meeting minutes on Wednesday, which could provide new clues about the direction of U.S. monetary policy. On Thursday, Banxico will publish minutes from its most recent meeting, which could influence local rate expectations.

Technical Outlook

Analysts note that the peso remains in a recovery trend. A break below the key 19.18 support level could signal further appreciation, with the next technical target around 19.10 pesos per dollar.

Mexican Stocks Edge Higher After Hitting Record Intraday High

Mexican stock markets posted modest gains on Tuesday. Although early morning momentum pushed the market to a new intraday record, most of the gains were later erased. Still, equities managed to notch a third consecutive session of gains.

The benchmark S&P/BMV IPC index, which tracks the most traded local stocks, rose 0.23% to 58,593.83 points. The FTSE BIVA, the main index of the Institutional Stock Exchange (Biva), climbed 0.58% to 1,185.45 points.