The Mexican peso awaits the Bank of Mexico, trading at 19.22 per dollar

Mexico City. While awaiting the fifth monetary policy decision of the year from the Bank of Mexico (BdeM), amid an annual rise of 5.57 percent in inflation and volatility in the exchange market, the Mexican peso began to come under pressure this morning against the dollar, trading at around 19.2209 units per dollar.

Before the opening of the American markets, the Mexican currency was trading at 19.12 units per dollar. After the Inegi published the inflation data in Mexico, the exchange rate began to rise and at times it is trading at 19.14 and 19.22 pesos per dollar.

Following the inflation data and the performance of the Mexican peso since the June 2 elections in Mexico, analysts consider it unlikely that the BdeM will cut interest rates this Thursday, where the reference rate is at 11 percent.

In the interbank market, the exchange rate closed yesterday at 19.2864 pesos per spot dollar. This morning, the dollar appreciated 0.31 percent, to 103.320 units, according to the DXY index, which measures the performance of the US currency against a basket of six international currencies.

Investors’ risk sentiment remains fragile in the short term.

The deterioration in the US employment figures on Friday reinforced economic pessimism in the United States, which quickly turned into a recession alert. However, Thursday’s data slightly improved the forecasts. Weekly applications for unemployment benefits in the United States stood at 233 thousand, below the 240 thousand expected and the 250 thousand of the previous week.

The red numbers returned to the Tokyo Stock Exchange, with a 0.74 percent drop on the Nikkei, close to the one percent drop with which the Nasdaq closed yesterday. The results of technology companies revived doubts about the sector, with Super Micro Computer as the trigger. Its shares sank 20 percent following its financial statements.

Despite this, Wall Street opened higher again, with the hope that this trend will continue, as it also started with gains in the previous session. The Nasdaq rose 1.53 percent, the S&P 500 1.14 percent and the Dow Jones advanced 1.12 percent.

For its part, the Mexican Stock Exchange (BMV) advances 0.19 percent, to 52,812 units.

The rebound from previous days continued in the United States on Thursday. The weekly US employment data raised the required yield on the 10-year US bond to around 4 percent, at 3.994 percent.

The macroeconomic concerns reflected in the debt market have also deflated the price of oil over the past week. These doubts about demand have overshadowed the effects of a lower-than-expected figure for weekly US inventories. The Brent barrel is threatening to fall to around $78.27. The West Texas barrel, the benchmark in the United States, is trading at $75.36.