Mexico Metropolis. Whereas ready for the inflation information in the USA and after the Federal Reserve (Fed) hints that there shall be rate of interest cuts this yr, the greenback is weakening worldwide and the Mexican peso desires so as to add seven periods of positive aspects in opposition to its American counterpart.
On the opening of the American markets, the Mexican peso appreciated 0.49 % to commerce at 17.8282 items per greenback. In accordance with information from Monex, it’s the third rising forex with the best positive aspects in opposition to the greenback this morning.
If this habits continues, the nationwide forex would have been on the rise for seven periods, its greatest streak since late February, early March of this yr.
The greenback index, DXY, which measures the greenback’s efficiency in opposition to a basket of six worldwide currencies, fell marginally by 0.06 % to 104.742 items.
Fed Chairman Jerome Powell testifies earlier than the Home Monetary Companies Committee. Buyers do not count on a lot to alter from yesterday’s speech, however there can all the time be surprises.
On Wall Avenue, the boards are painted inexperienced, with the three foremost inventory indices buying and selling larger, led by the Nasdaq with an increase of 0.49 %; the S&P 500 up 0.31 % and the Dow Jones up 0.02 %.
The Mexican Inventory Alternate (BMV), for its half, rose 0.18 %, buying and selling at 53,406 factors.
Brent crude oil is extending its decline to $84.53 from its current excessive of $86. Fewer warnings concerning the results of hurricanes on the oil trade within the Gulf of Mexico are correcting the upward pressures that prevailed final week. In the meantime, the US benchmark WTI is buying and selling at $81.36.
The greenback’s resistance retains the gold worth under the $2,400 stage. The crypto market is on a extra constructive word at present, with Bitcoin at $57,830.
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– 2024-07-20 08:23:10
