Financial markets operate with caution

Mexico City. Awaiting macroeconomic data from the United States that could ease or aggravate doubts about the health of the world’s largest economy, which contributed to the start of the stock market storm eight days ago, and focused on the risks of recession, financial markets start the week with doubts and in mixed territory.

At the opening of the American market session, the Mexican peso is trading with a depreciation of 0.29 percent, trading at around 18.8769 units per dollar. The Mexican currency closed on Friday in the wholesale market at 18.8289 pesos per spot dollar.

“The Mexican peso is starting around 18.88 per dollar, trying to leave behind the recent volatility of the previous days, due to fears of recession in the United States and massive sales of the yen carry trade; so now they are waiting for the inflation in the United States on Wednesday,” described the analysis area of ​​CIBanco.

In its overnight operations in international markets, the Mexican currency has nevertheless shown high volatility, where it traded between 18.79 and 18.90 units per dollar.

Without too many surprises, the dollar rose 0.14 percent to trade at 103.102 units, according to the DXY index, which measures its performance against a basket of six international currencies. The exchange market also expects various interventions or statements from members of the Federal Reserve (Fed) during the week.

Far from triggering all the loss alerts, the session has started with the respite typical of a holiday on the Tokyo Stock Exchange. In China, however, equities are practically flat.

One of the barometers for measuring the degree of tension in the markets, the interest rates on debt, have again avoided the instability of previous days. Macroeconomic warnings have moderated, and with this, the prospects for rate cuts are much more aggressive than expected. The interest rate on the 10-year US bond remains close to but below the 4 percent threshold, at 3.94 percent.

Wall Street thus opens on mixed ground, with the Nasdaq up 0.39 percent, the S&P 500 up 0.11 percent and the Dow Jones down 0.31 percent.

The Mexican Stock Exchange (BMV), for its part, fell 0.63 percent to 52,732 points.

The oil market, with hardly any impact from the ‘currency effect’ today, is aiming for its fifth consecutive rise. Geopolitical alerts due to the situation in the Middle East and the greater containment of macro alerts are driving the rise of the barrel of Brent, which is reaching highs above the 80 dollar barrier, with a gain of 1.02 percent this morning. WTI is up 1.35 percent, at 77.87 dollars.

Gold, one of the safe haven assets par excellence, is back on the threshold of the $2,500 per troy ounce barrier, a level that would leave the precious metal one step away from its historical highs, gaining 0.60 percent to $2,488.95.