Mexican Peso climbs on Greenback as Mexico's stable Business Confidence overshadows climbing US Treasury yields.
Mexico’s economic schedule will feature Gross Fixed Investment and upcoming Banxico minutes.
Despite positive US job and factory order figures, the Greenback's rally loses momentum.
The Mexican Peso recovered some ground against the US Dollar on Tuesday after upbeat economic data from the United States (US), while Mexico's Business Confidence remained unchanged. Although US Treasury yields climb, the Greenback fails to gain traction. The USD/MXN trades at 16.58, down 0.2%.
Mexico’s economic docket is busy during the week. The National Statistics Agency (INEGI) revealed that business confidence was unchanged at 54.3 in February yet remained at high levels, the last seen in almost eleven years. Traders will be eyeing the release of Gross Fixed Investment figures on Wednesday, followed by the release of the latest meeting minutes for the Bank of Mexico (Banxico).
Across the border, job vacancy figures for February exceeded the downwardly revised data for the previous month, while Factory Orders improved for the same period. Following the data, US Treasury yields climbed, but the US Dollar remains on the defensive.
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