The currency pair is the Canadian dollar to the Mexican peso - a cross-currency pair. And despite the fact that the US dollar is not in this pair, it has a strong influence on it. An interesting observation is that if you combine the CAD / USD movement charts with USD / MXN, you will get an approximate chart of the CAD / MXN pair.
For a more accurate forecast of the movement of the CAD / MXN price, it is necessary to take into account the main economic indicators of the United States of America, since the US dollar has some influence on each of these currencies.
Indicators of the United States, which should be taken into account:
• indicator of GDP;
• Unemployment rate and others.
Canada is the world's leading oil exporter. The dynamics of the value of the Canadian dollar is directly proportional to the fluctuations in the cost of oil, that is, the price of oil has a direct impact on the Canadian national currency rate.
Mexico has the highest per capita income level in Latin America, which puts it on a par with the most developed countries in the region. In the 1980s, most Mexican state enterprises were privatized - the private sector occupies a significant part of the country's economy, with most of the enterprises owned by foreign companies.
Mexico is actively trading with the United States and Canada, as part of the North American Free Trade Agreement. The profit from trade is one of the main incomes of the country. Much of Mexico's revenue comes from oil exports, Mexico is one of the largest oil exporters in Latin America.
But in order to avoid economic problems, the Mexican government decided to take measures to reduce oil and natural gas production, since despite the size of gas and oil fields, the reserves of fossils tend to be depleted. There is an opinion that if Mexico continues to adhere to a restrictive policy, then after a while the country will be forced to import fuel to meet the needs of the national economy. Thus, world oil prices affect the rate of the Mexican peso.
The graph presented on the page reflects the dynamics of the CAD / MXN movement.
Canadian dollar - (currency sign - $ or C $, Bansko code: CAD) - the national currency of Canada. It was introduced in 1858. The Central Bank of Canada has the right of issue and regulation.
Mexican peso - (Mexican peso, like the US dollar - $, bank code: MXN) - the currency of Mexico. Until 1999, the All-Russian classifier of currencies was called the Mexican new peso. On May 27, 2008, the Mexican peso entered the list of freely convertible currencies used for settlements in the international interbank system CLS. The Bank of Mexico has the right to issue and regulate.
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