The Mexican Peso has experienced a slight pullback against the US Dollar on Monday, following recent gains. While the broader market sentiment remains supportive of the Peso, investors are taking a breather before potentially resuming buying activity.

The upcoming release of Mexican economic data, including retail sales and inflation figures, will be closely watched for further insights into the country’s economic health. However, the primary focus for investors remains on the upcoming Jackson Hole Symposium and the Federal Reserve’s monetary policy outlook.

Technical Outlook

The Mexican Peso’s recent strength has pushed USD/MXN lower, with the pair approaching the 50-day EMA. A sustained break below this level could signal further gains for the Peso. However, support levels near 18.35 and the rising trendline provide a solid foundation for the currency.