He peso returned to activities and showed gains on Monday against the dollar after it did not operate during the past Thursday and Friday in the local market, and after the historic OPEC + oil agreement.
According to data from Banco de México (Banxico), the Mexican currency appreciated 1.31 percent this day compared to WednesdayThis closes at 23.6950 units per dollar.
On the last day of activities in the local market (Wednesday, April 8), the Mexican currency had closed at 24.01 units per greenback.
At the bank teller, the dollar is trading this Monday at 24.02 units, according to Citibanamex data.
Despite the gain, in electronic operations the Mexican currency paused five days in a rowAt a time when local markets and Wall Street showed the first reactions to the cut in oil production reached over the weekend by OPEC + and in the face of a session lacking available economic information.
The interbank dollar in electronic operations gained 1.82 percent, or 42 cents, which brought it to 23. 73 pesos per dollar.
Juan Francisco Caudillo, technical analyst at Monex Casa de Bolsa, explained that the exchange rate has a key support at 23.30 pesos and resistance at 24.00 pesos, the break of either of these two levels would determine the bullish scenario or that could continue falling exchange rate.
The Bloomberg index, which measures the strength of the greenback against a basket of ten currencies, fell 0.24 percent to 1,244.47 points.
During the marathon OPEC + meeting, they reached an agreement on Sunday to cut their crude production by 9.7 million barrels per day.
In the pact, which included Mexico, it was established that the country will cut 100,000 barrels a day.
On the coronavirus, the World Health Organization (WHO) said that 70 vaccines are being developed around the world, with three of them already in the human testing stage.
Over the weekend, the number of global cases exceeded 1.85 million cases, while Spain reported the fewest cases since March 20.
Neel Kashkari, a Fed member voting this year, indicated that his country’s economy could face 18 months of partial closings without effective therapy or vaccination, with the possibility that this will start in May, warning that it is necessary to prepare for the worst case scenario.
–
