Mexican peso appreciates 0.42%; closes at 16.56 per dollar

Mexico City. The Mexican peso resumed its gains against the dollar this Tuesday. Amid an increase in risk aversion due to geopolitical problems, pessimism about the cut in interest rates and the impact on inflation due to high oil prices, investors remained cautious.

Given the weakness of the dollar internationally, the Mexican currency appreciated 0.42 percent, equivalent to 7.02 cents against the US currency, to close at 16.5610 units per dollar spotagain at levels not seen since December 2015.

Investors keep in mind the better-than-expected data on China’s manufacturing activity, which occurred in parallel with the first growth in 18 months of this same indicator in the United States, so the industrial reactivation reflected in these data translates in a rebound in debt interest, which rose to 4,359 percent, at its highest levels in 2024.

Thus, the dollar fell 0.24 percent, to 104,515 units, according to the DXY index, which measures the behavior of the US currency against a basket of six international currencies.

Israel’s attack on the Iranian consulate in Damascus may lead to an escalation in the Middle East conflict, and investors respond with a new position in the oil market.

Thus, oil prices rose on Tuesday to their highest since the end of October last year, in a context of concern about supply and increased demand.

The West Texas barrel, the benchmark in the United States, reached $85.15, gaining 1.72 percent this Tuesday; and Brent reached $89, but closed at $88.92, an increase of 1.71 percent.

Gold gained appeal as a safe haven asset due to fear of a geopolitical escalation, hence it gained 1.91 percent, to $2,300.15 per ounce. troy.

Tesla’s sales decline took its toll on Wall Street, which closed with losses, while investors also assimilated the possibility that an interest rate cut could occur later than expected.

The Dow Jones closed down one percent, at 39,170.24 points, knocking the blue-chip index back from its attempt to reach the key 40,000 level. The S&P 500 lost 0.72 percent, to 5,205.81 points; while the tech-heavy Nasdaq also fell 0.95 percent to 16,240.45 units.

For its part, the Mexican Stock Exchange (BMV) fell 0.12 percent, to 57,581.81 points.