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16 May 2025

New Zealand Business NZ PMI climbed from previous 53.2 to 53.9 in April

May 16, 2025

Mexican Peso falls as Banxico cuts rates, USD/MXN rises

The Mexican Peso (MXN) depreciated against the US Dollar (USD) on Thursday after the Banco de Mexico (Banxico) reduced rates as expected, amid weaker-than-expected economic data from the United States (US). At the time of writing, the USD/MXN trades at 19.49, up 0.61%.

USD/CAD loses ground to near 1.3950 on weak US economic data

The USD/CAD pair loses ground to near 1.3955 during the early Asian session on Friday. The Greenback weakens against the Canadian Dollar (CAD) as US economic data fueled speculation that the Federal Reserve (Fed) will resume interest rate cuts in the coming months.