Mexico City.- In a day with few economic indicators and while the markets await local and US inflation data, the exchange rate ended with losses for the Mexican peso.
At retail, the dollar increased its price nine cents to 18.28 pesos for sale at Citibanamex windows, and to 17.23 pesos for purchase.
In the wholesale crosses between banks, brokerage houses, exchange houses, companies and individuals, the value of the US currency began the week with a slight advance of 2.32 cents and was sold at 17.8028.
In the Foreign Exchange Market (Forex) or international currency market, the green bill had an upward variation of 3.56 cents to 17.7975 pesos, after three sessions with setbacks.
For Banco Base specialists, the Mexican peso depreciated as a result of an upward correction of the Forex exchange rate, after touching a minimum in the year of 17.7405 overnight, a level not seen since September 22, 2017.
Investors are evaluating the probability of a recession, the tightening of financial conditions and its potential effect on monetary policy cycles in various regions, according to Banorte strategists.
Monex Casa de Bolsa reports that in the United States, legislators are trying to negotiate a deadlock on the US debt ceiling, after the Secretary of the Treasury, Janet Yellen, warned that the Government might not be in a position to pay its debt before from June 1.
Little economic information will be published in the local sphere during the week; Tomorrow, the National Institute of Statistics and Geography (Inegi) will announce inflation for April.
Banco Base points out that during the week the market will be attentive to economic information from the United States, highlighting the inflation for April that is published on Wednesday 10 and that the market estimates at 5 percent annually, without changes with respect to the observation of March.
In this environment, the shares of the neighboring country to the north ended mixed: the Nasdaq rose 0.18 percent and the Standard & Poor’s 0.05 percent, while the Dow Jones fell 0.17 percent.
The S&P/BMV experienced a small advance of 0.17 percent and the index of the 50 most important shares of companies in the eurozone, the Euro Stoxx increased 0.19 percent.
