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Peso Ascends Following Optimistic Investment Data

Peso Ascends Following Optimistic Investment Data

Michael Romero, Contributor

Talking Points:

• Gross Investment Soars In October 2014.

• Peso Appreciates After Optimistic Data.

Not surprisingly the MXN Peso gained footing against the USD after the National Institute of Statistics and Geography released optimistic gross investment data. Mexico’s gross fixed investment increased significantly for October 2014 when compared to the previous periods reading of 5.7 percent, crossing the wire at 6.8 percent, above leading analysts’ expectations of 5.1 percent according to the National Institute of Statistics and Geography .Gross fixed investment which represents spending on imported and domestically produced machinery and construction presented a 1.89 percent variation in October 2014 in comparison to the previous month, in seasonally adjusted terms. The hike stemmed from a 11.7 percent increase in equipment and a 3.8 percent increase in construction.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.