Mexico City. Amid the rise in geopolitical tensions and new highs in oil and gold, the dollar resumed its decline and the Mexican peso operates at around 16.5819 units per dollar.
At the opening of the American markets, the Mexican currency appreciated 0.18 percent, to trade above 16.58, returning to levels not seen since the end of 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 rise in debt interest, according to reports.
Economic strength could delay the decline in interest rates in the United States, as the probability of a rate cut by the Federal Reserve (Fed) in June has dropped from 70 percent last week to 61 percent currently, agencies report .
Hence, the required yield on the 10-year US bond rises to 4.367 percent.
The interest on the debt also testifies to the greater inflationary tensions that the oil market is carrying, due to the fact that a barrel of Brent exceeded $89 in the early morning for the first time since last October. This morning it operates with a gain of 0.65 percent, at $88.
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. The West Texas type barrel, the reference in the United States, reached 85 dollars, but this morning it rose 0.65 percent, to 84.26 dollars.
On Wall Street, risk aversion has been present. The three indices operate with falls, led by the Nasdaq, with a 1.36 percent loss.
The strength of the dollar does not prevent gold’s gains. The precious metal gains appeal as a safe haven asset due to fear of a geopolitical escalation, hence it gains 1.48 percent, to $2,290.45 per troy ounce.
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– 2024-04-08 04:14:43
