{
  "id": 18021894,
  "title": "Mexican Peso tumbles as US midterm anxiety meets factory slowdown",
  "url": "https://urgent.news/2026/11/03/mexican-peso-tumbles-as-us-midterm-anxiety-meets-factory-slowdown",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-03T21:03:32.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/mexican-peso-tumbles-as-us-midterm-anxiety-meets-factory-slowdown-202611032103"
  },
  "original_language": "en",
  "account": "The Mexican Peso (MXN) depreciated against the US Dollar (USD) on Tuesday as investors grew apprehensive over the upcoming US mid-term elections. The USD/MXN exchange rate climbed by more than 1.40% to 18.84. Market sentiment was optimistic, with Wall Street expected to conclude the session with gains. The US Dollar Index (DXY), which tracks the dollar's value against six currencies, rebounded modestly from its prior losses, increasing by 0.05% to 101.85. Tensions in the Middle East, their effect on energy costs, and the unpredictable outcome of the US mid-term elections are pressuring the Mexican currency. Mexico's manufacturing sector experienced contraction, with the S&P Global Manufacturing Purchasing Managers Index (PMI) falling from 50.3 to 49.5 in September. Companies cited \"cash flow issues, inflationary pressures, raw material shortages, and dwindling sales\" for the decline in production. The Bank of Mexico (Banxico) reported in its private economists survey that it anticipates inflation to stay within its 3% ± 1% range. Analysts expect the Mexican economy to expand at a slower pace than the government's 2% GDP projection for the current and following years, and Banxico will maintain interest rates unchanged through the end of 2027. The USD/MXN pair is showing bullish momentum in the near term, trading at 18.8383 and above a triple simple moving average cluster. The Relative Strength Index (14) stands at 65, indicating strong bullish momentum. However, the pair is vulnerable to a key technical resistance level around 21.08.",
  "summary": "The Mexican Peso (MXN) loses ground against the US Dollar (USD) on Tuesday amid ongoing developments in the US mid-term elections, with investors turning cautious as they await the results and the composition of the US Congress. The USD/MXN trades at 18.84, up by over 1.40%.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}