He Mexican peso appreciated marginally against the American dollar this Monday. After starting the session in negative territory, the local currency turned into a market of cautious moves, awaiting key economic figures to be released this week.
He exchange rate spots it ended this session at the level of 17.9770 units per dollar. Against 17.9855 units per dollar on Friday, the movement meant a marginal appreciation of only 0.05%, less than a cent, with data from the Bank of Mexico (Banxico).
The cross operated in a limited range between a maximum of 18.0479 units and a minimum of 17.9667 units, similar to that observed since the middle of the month. He Dollar Index (DXY), which measures the greenback with six reference currencies, lost 0.46% to 101.36 points.
aimless market
The financial markets appear aimlessly awaiting the release of relevant figures on economic growth this week. Among the data, for the peso, the expansions of the Gross domestic product (GDP) of the United States and Mexico.
“Due to caution, the exchange rate reached seven consecutive sessions showing sideways behavior,” local firm Banco Base said in an analysis note. “It is expected to continue trading in the short term between 17.94 and 18.10 units,” he added.
In local figures, it was revealed in the morning that Mexico’s biweekly inflation fell more than expected, to 6.24%, fueling growing expectations that this central bank tightening cycle may have come to an end.
“Seasonally, this fortnight is usually negative inflation derived from CFE electricity rate subsidies in states with high temperatures. Tomorrow in Mexico we will see the IGAE data for February,” said Juan Carlos Cruz Tapia, an EBC teacher.
