Mexican Peso Gains Ground as Dollar Falters; IPC Sets New Peak

Official market data reveals the Mexican peso strengthened against the U.S. dollar on September 11, 2025. Traders pushed the USD/MXN rate down to 18.4674 at close, a 0.71% drop.

This move extended a five-day rally amid U.S. inflation data at 2.9% year-over-year.
U.S. jobless claims hit 263,000, the highest in four years. Investors anticipated three Federal Reserve rate cuts by year-end.

Mexican exports surged, bolstering the peso through favorable trade differentials. Tariff threats from U.S. politics earlier weakened it by 1%, but no new issues arose.

The dollar index rose slightly to 97.6173 on September 12, up 0.09%. Yet it weakened overall in 2025 by 10-11%. Emerging market currencies like the Brazilian real and South African rand gained similarly against the dollar.

Mexico’s peso outperformed peers with a 0.5% monthly advance. The S&P/BMV IPC index climbed 1.76% to 61,553.58, a record high. Thirty of 36 components advanced.

Fomento Economico Mexicano led winners with a 3.65% gain to 167.18. Grupo Aeroportuario del Pacifico followed at 3.52% to 475.00. Grupo Carso rose notably too.

Few losers emerged in the broad rally. The index outpaced the S&P 500, which saw smaller gains amid U.S. data. Year-to-date, IPC rose 25%, drawing ETF inflows of $397 million.

USD/MXN Extends Downtrend With Key Supports in Focus

This beat global benchmarks like the MSCI Emerging Markets index up 20%. Charts show USD/MXN in a downtrend on the daily view. The 200-day simple moving average slopes downward at 18.80.

Relative strength index dipped below 40, signaling oversold conditions. MACD crossed bearish in late August. The 4-hour chart confirms volatility with a break below 18.60 support.

Bollinger Bands narrowed, indicating low volatility. Volume spiked on the September 11 drop, validating the move. Fibonacci retracement places next support at 18.00, a 61.8% level.

IPC charts display an uptrend on the daily timeframe. The 50-day exponential moving average supports at 59,000. RSI hovered above 70, suggesting overbought momentum. MACD showed bullish convergence since July.

The 4-hour view reveals a breakout above 61,000 resistance. Volume bars confirmed buying pressure. Support holds at 60,000, with resistance at 62,000. Bollinger Bands expanded, pointing to rising volatility.

The yellow line tracks the Global Liquidity Index NDQ. It oscillated lower in recent sessions. This signals declining excess funds toward risk assets. Yet Mexico’s trade position cushioned impacts.

Markets reacted to U.S. weakness, enhancing Mexico‘s export edge. Investors shifted to emerging assets for yield. The peso’s carry trade appeal grew. IPC’s rally reflected confidence in domestic firms.

This dynamic underscores trade flows over global policy. Mexico benefits from U.S. softening without direct intervention. Observers watch for sustained Fed easing effects.