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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

NAFTA Dangers Sends MXN Plunging

April, 27 2017
watermark Economic news

The Mexican Peso (MXN) is now about to record its lowest drop within a five-month period following reports that the Trump administration is planning to pull itself out from the NAFTA agreement. There are now reports that the White House is currently drafting an EO which will enable the said withdrawal and could be released either within the week or next week. This caused the Mexican Peso to crash by 2% against the USD, the currency’s largest daily drop since its previous drop against the CAD last November. A weak MXN could spell bad news for the US economy, since this will mean that Mexican exports will be more affordable as compared to US exports.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.