Mexico City., Following the broad rate cut by the United States Federal Reserve (Fed), awaiting the monetary policy decision by the Bank of Mexico this week, and given the monetary surprise in China, the Mexican peso starts the last week of September at levels close to 19.34 per dollar.
At the opening of the American markets, the Mexican peso was trading at around 19.3422 units per dollar, a level that allows it to appreciate against the dollar by approximately 0.27 percent.
It is worth remembering that the exchange rate closed the week at 19.4082 pesos per spot dollar, according to data from the Bank of Mexico.
“With the hangover from the Fed’s decision and assimilating the latest comments from the members of the Federal Open Market Committee (FOMC), the markets are assimilating the rate cut and liquidity injection from the People’s Bank of China. Meanwhile, Mexico’s economy grew more than expected in July,” described CIBanco.
Meanwhile, next Thursday, the market consensus expects the Bank of Mexico to cut the reference rate by 0.25 percentage points, to 10.50 percent.
Meanwhile, the dollar index, which measures the performance of the US currency against a basket of six international currencies, appreciated 0.22 percent, to 100.632 units.
The People’s Bank of China surprised us this morning by lowering one of its short-term intervention rates without warning. It also injected a significant amount of liquidity into the system, confirming the institution’s intention to adopt measures to boost the country’s economic growth.
Wall Street opened higher this morning, with the Nasdaq leading the way with a rise of 0.27 percent, while the Mexican Stock Exchange fell a marginal 0.04 percent.
Despite the rise in the dollar and the tension in the Middle East, the price of a barrel of oil is gaining ground. Brent crude is trading at $74.36 and West Texas crude, the benchmark in the United States, is trading at $71.76.
Despite a slight correction, the price of gold remains at its highest level, at $2,657 per troy ounce.
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– 2024-09-24 14:13:50
