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FX BANK FORECAST · COVERAGE
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Aggregated year-end forecasts, scenario shifts, and curated analyst notes from 36 institutional desks. No promotion.
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usdmxn-banxico
USD/MXN · Banxico Research
Research grouped under the USD/MXN · Banxico pillar — consensus, dispersion, and the gap to spot across firms. Every piece links back to the underlying firm reports.
- ·USD/MXN·5 min read·-5.07% gap
USD/MXN Consensus Check: Spot at 16.99, Median Target 17.90 — Week of September 1, 2026
USD/MXN trades at 16.99, roughly 5% below the 19-bank median Dec-26 target of 17.90, with a 2.20-point dispersion signalling unusually wide disagreement on the peso's path.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.97% gap
USD/MXN Consensus Check: Spot at 17.01, Median Target 17.90 — Week of August 31, 2026
USD/MXN trades 4.97% below the 19-bank median Dec-2026 target of 17.90, with a 2.20-figure dispersion separating Nomura from StanChart.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.94% gap7 reads
USD/MXN: Consensus at 17.90, Spot at 17.02 — Carry Still Wins
Spot USD/MXN at 17.02 sits 4.94% below the Dec-26 consensus of 17.90, with a 2.20-figure dispersion reflecting sharply divided views on Banxico's easing path.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.84% gap1 reads
USD/MXN Consensus Check: Spot at 17.03, Median Target 17.90 — Week of August 30, 2026
USD/MXN trades at 17.034, roughly 4.84% below the 19-firm median Dec-2026 target of 17.90, with a 2.20-point dispersion across desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.84% gap1 reads
USD/MXN Consensus Check: Spot at 17.03, Median Target 17.9 — Week of Aug 28, 2026
USD/MXN spot sits 4.84% below the 19-firm Dec-2026 consensus of 17.9, with a 2.2-point dispersion signalling meaningful disagreement on the carry trade outlook.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-5.40% gap3 reads
USD/MXN Consensus Check: Spot at 16.93, Median Target 17.90 — Week of August 26, 2026
USD/MXN trades 5.4% below the 19-firm Dec-2026 median of 17.90, with a 2.20-point dispersion signalling unusually wide disagreement on the carry and nearshoring outlook.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-5.29% gap2 reads
USD/MXN Consensus Check: Spot at 16.95, Dec-26 Target 17.90 — Week of August 24, 2026
USD/MXN trades at 16.953, roughly 5.3% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-figure dispersion separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-5.47% gap1 reads
USD/MXN Consensus Check: Spot at 16.92, Median Target 17.90 — Week of August 23, 2026
USD/MXN spot sits 5.47% below the 19-firm Dec-26 median of 17.90, with a 2.20-point dispersion signalling meaningful disagreement on the carry and nearshoring outlook.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-5.47% gap1 reads
USD/MXN Consensus Check: Spot at 16.92, Median Target 17.90 — Week of August 22, 2026
USD/MXN trades at 16.921, roughly 5.5% below the 19-firm Dec-26 consensus median of 17.90, with a 2.20-point spread separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-5.40% gap5 reads
USD/MXN Consensus Check: Spot at 16.93, Median Target 17.90 — Week of August 21, 2026
USD/MXN trades 5.4% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-figure dispersion that reflects sharply divided views on Banxico's easing path.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.70% gap1 reads
USD/MXN Consensus Check: Spot at 17.06, Median Target 17.90 — Week of August 19, 2026
USD/MXN spot sits 4.70% below the 19-firm Dec-2026 consensus median of 17.90, with a 2.20-point dispersion range signalling unusually wide disagreement on the peso path.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.75% gap2 reads
USD/MXN Consensus Check: Spot at 17.05, Median Target 17.90 — Week of August 18, 2026
USD/MXN trades 4.75% below the 19-firm Dec-2026 median of 17.90, with a 2.20-point dispersion separating Nomura's 19.20 from StanChart's 17.00.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.81% gap1 reads
USD/MXN Consensus Check: Spot at 17.04, Median Target 17.90 — Week of August 17, 2026
USD/MXN trades 4.81% below the 19-bank median Dec-26 target of 17.90, with a 2.20-figure dispersion separating Nomura from StanChart.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.89% gap1 reads
USD/MXN Consensus Check: Spot at 17.02, Median Target 17.90 — Week of August 15, 2026
USD/MXN trades at 17.02, nearly 5% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion flagging unusually wide disagreement on the peso path.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.91% gap
USD/MXN Consensus Check: Spot at 17.02, Median Target 17.90 — Week of August 14, 2026
USD/MXN trades at 17.02, nearly 5% below the 19-firm median Dec-26 target of 17.90, with a 2.20-point dispersion signalling deep disagreement on the peso's path.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.70% gap
USD/MXN Consensus Check: Spot at 17.06, Median Target 17.90 — Week of August 13, 2026
USD/MXN trades at 17.06, roughly 4.7% below the 19-firm median Dec-2026 target of 17.90, with a 2.20-point spread separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.68% gap
USD/MXN Consensus Check: Spot at 17.06, Median Target 17.90 — Week of August 12, 2026
USD/MXN spot sits 4.68% below the 19-firm Dec-26 median of 17.90, with a 2.20-figure dispersion signalling deep disagreement on the carry trade's durability.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.26% gap
USD/MXN Consensus Check: Spot at 17.14, Dec-26 Target 17.90 — Week of August 11, 2026
USD/MXN spot at 17.14 sits 4.26% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion signalling meaningful disagreement on carry and risk.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.24% gap
USD/MXN Consensus Check: Spot at 17.14, Dec-26 Target 17.90 — Week of August 10, 2026
USD/MXN spot sits 4.24% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion separating StanChart from Nomura.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.28% gap1 reads
USD/MXN Consensus Check: Spot at 17.13, Median Target 17.90 — Week of August 9, 2026
USD/MXN trades at 17.13, roughly 4.3% below the 19-firm Dec-26 consensus median of 17.90, with a 2.20-point spread separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·4 min read·-4.27% gap1 reads
USD/MXN Consensus Check: Spot at 17.14, Median Target 17.90 — Week of August 8, 2026
USD/MXN trades at 17.14, roughly 4.3% below the 19-firm Dec-26 consensus median of 17.90, with a 2.20-point spread separating the most bullish and bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-4.27% gap
USD/MXN Consensus Check: Spot at 17.14, Median Target 17.90 — Week of August 7, 2026
USD/MXN trades at 17.14, roughly 4.3% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point spread separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-3.85% gap1 reads
USD/MXN Consensus Check: Spot at 17.21, Median Target 17.90 — Week of August 6, 2026
USD/MXN trades at 17.21, roughly 3.85% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-3.68% gap
USD/MXN Consensus Check: Spot at 17.24, Median Target 17.90 — Week of August 5, 2026
USD/MXN trades 3.68% below the 19-firm Dec-2026 median of 17.90, with a 2.20-point dispersion range signalling meaningful disagreement on the carry trade outlook.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-3.33% gap
USD/MXN Consensus Check: 17.30 Spot vs 17.90 Target, Week of Aug 4 2026
USD/MXN trades at 17.30, roughly 3.3% below the 19-firm Dec-26 consensus median of 17.90, with a 2.20-point spread separating the most bullish and bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-3.19% gap
USD/MXN Consensus Check: Spot at 17.33, Median Target 17.90 — Week of August 2, 2026
USD/MXN trades at 17.33, roughly 3.2% below the 19-firm median Dec-26 target of 17.90, with a 2.20-figure spread separating the most and least bearish desks.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-3.19% gap1 reads
USD/MXN Consensus Check: Spot at 17.33, Median Target 17.90 — Week of August 1, 2026
USD/MXN spot sits 3.19% below the 19-firm Dec-26 median of 17.90, with a 2.20-point dispersion that reflects sharply divided views on carry and tariff risk.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.13% gap
USD/MXN Consensus Check: Spot at 17.52, Median Target 17.90 — Week of July 29, 2026
USD/MXN trades 2.13% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion separating Nomura's 19.20 from StanChart's 17.0.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.36% gap1 reads
USD/MXN Consensus Check: Spot at 17.48, Targets Spread to 19.2 — Week of July 28, 2026
USD/MXN spot at 17.48 sits 2.36% below the 19-firm Dec-26 consensus median of 17.90, with a 2.20-point dispersion from StanChart to Citi.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.33% gap
USD/MXN Consensus Check: Spot at 17.48, Targets Reach 19.2 — Week of July 26, 2026
USD/MXN trades 2.33% below the 19-firm Dec-2026 consensus median of 17.90, with a 2.20-point dispersion signalling deep disagreement on carry and risk.
usdmxn banxicoRead → - ·USD/MXN·4 min read·-2.33% gap
USD/MXN Consensus Check: Spot at 17.48, Targets Spread to 19.2 — Week of July 25, 2026
USD/MXN trades 2.33% below the 19-firm Dec-26 consensus median of 17.90, with a 2.20-point dispersion separating Citi from StanChart.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.33% gap2 reads
USD/MXN Consensus Check: Spot at 17.48, Median Target 17.90 — Week of July 24, 2026
USD/MXN trades 2.33% below the 19-firm Dec-2026 median of 17.90, with a 2.20-point dispersion separating Citi's 19.20 from StanChart's 17.0.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.11% gap
USD/MXN Consensus Check: Spot at 17.52, Median Target 17.90 — Week of July 23, 2026
USD/MXN spot sits 2.11% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-figure dispersion separating Citi's 19.20 from StanChart's 17.00.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.83% gap
USD/MXN Consensus Check: Spot at 17.39, Median Target 17.90 — Week of July 22, 2026
USD/MXN trades 2.83% below the 19-firm Dec-26 median of 17.90, with a 2.20-point dispersion separating Citi's 19.20 from StanChart's 17.0.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.81% gap2 reads
USD/MXN Consensus Check: Spot at 17.40, Median Target 17.90 — Week of July 21, 2026
USD/MXN trades 2.81% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion separating Citi's 19.20 from StanChart's 17.0.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.14% gap1 reads
USD/MXN Consensus Check: Spot at 17.52, Median Target 17.90 — Week of July 20, 2026
USD/MXN trades 2.14% below the 19-firm median Dec-2026 target of 17.90, with a 2.20-figure dispersion separating Citi's 19.20 from StanChart's 17.0.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.00% gap
USD/MXN Consensus Check: Spot at 17.54, Dec-26 Target 17.90 — Week of July 19, 2026
USD/MXN trades ~2% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion range signalling deep disagreement on carry and nearshoring.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.00% gap3 reads
USD/MXN Consensus Check: Spot at 17.54, Median Target 17.90 — Week of July 18, 2026
USD/MXN trades at 17.54, roughly 2% below the 19-firm Dec-26 consensus of 17.90, with a 2.20-point dispersion separating Citi from StanChart.
usdmxn banxicoRead → - ·USD/MXN·5 min read·-2.81% gap
USD/MXN Consensus Check: Spot at 17.40, Median Target 17.9 — Week of July 16, 2026
USD/MXN spot sits 2.81% below the 19-firm Dec-26 median of 17.9, with a 2.2-point dispersion separating Citi's 19.2 from StanChart's 17.0.
usdmxn banxicoRead →