The Mexican currency opened on Tuesday at 18.83 pesos per dollar in international markets, which represents a depreciation of 0.93% or 17 cents compared to the previous day, according to information from Bloomberg.
In the overnight session, the exchange rate was volatile with an upward bias. Today, the peso opened the session by reducing yesterday’s advance, mainly affected by local data on retail sales, while the markets await the inflation figures for the first half of August and the Gross Domestic Product (GDP) at the end of the week.
The dollar index, which compares the performance of the US currency against the other six major currencies in the world, opened with a depreciation of 0.12%. The euro remained stable against the greenback, while the pound gained 0.2%.
Read also Price of the dollar today: Peso starts the week with losses and closes at 18.69 units
Bitcoin, the most active currency in the cryptocurrency market, is up 4.0%, keeping investors’ appetite alive.
Mexican peso depreciates 0.93%. Photo: IStock
Global stock markets are mixed after a clear optimism in the previous session, when expectations of a rate cut by the Federal Reserve (Fed) in September increased.
For now, investors will be looking to the Jackson Hole symposium for a clearer picture of the Fed’s easing cycle. On the corporate front, cybersecurity company Palo Alto Networks reported second-quarter earnings, which beat market expectations and boosted the firm’s stock.
On Wall Street, futures for the main stock indicators point to a divergent opening, with the Dow Jones falling 0.09% standing out.
Read also: Dollar price opens the week higher at 18.78 pesos wholesale
In Europe, the stock markets were volatile, with the Euro Stoxx 50 trading down 0.02%, while in Asia, the markets closed mixed, with the Nikkei gaining 1.8% and the Han Seng falling 0.3%.
The price of U.S. WTI crude, the benchmark for the Mexican blend, is holding steady after the biggest daily drop in two weeks, with investors closely following ceasefire negotiations over the Gaza war and growing concerns about global demand.
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