Mexico City. With our eyes still focused on the effects that the United States employment data published last Friday may have, which once again raised fears of an economic slowdown, but fueled the options for reductions in US interest rates, the markets open on the rise this Monday.
At the opening of the American markets, the Mexican peso operates with gains against the dollar, appreciating 0.32 percent, to operate at around 16.9061 units per dollar. While the dollar fell 0.08 percent against the basket of six international currencies, according to its DXY weighted index.
According to CIBanco analysts, the national currency anticipates gains at the beginning of the week, appreciating at times towards 16.92 spot, with operators still assimilating the lower job creation in the United States, which fuels hopes of rate cuts. For the rest of the day the exchange rate could fluctuate between 16.86 and 17.01 per dollar.
This Monday, the interventions of two members of the Federal Open Market Committee (FOMC) of the Federal Reserve stand out, Thomas Barkin, regional president of Richmond and John Williams, president of the New York Federal Reserve.
The debt market, the most sensitive to monetary policies, retreats due to the possibility of a softer stance from the Fed. Debt interest rates correct from their recent six-month highs. The required yield on the 10-year US bond moderates to around 4,503 percent.
Fears of an economic slowdown in the United States deflated the price of a barrel of Brent to $83.54, a level that is consolidated in today’s session. The West Texas type barrel, the reference in the US, stands at 78.69 dollars; both with profits.
The US stock markets have a positive opening, with no relevant news to discount, except Berkshire Hathaway’s divestment in Apple.
The Nasdaq advances 0.55 percent; while the Dow Jones and the S&P 500 rise 0.34 and 0.60 percent, respectively. The Mexican Stock Market rises 0.10 percent.
In Europe, stock markets see widespread gains after the eurozone services PMI rose from 51.5 to 53.3 points, as a result of the advance of the PMIs of Germany, France, Spain and Italy. The UK stock market remains closed.
In Asia, stock markets closed with widespread gains with stock markets in Japan and South Korea closed for holidays. The Hang Seng rose 0.55 percent, as did the Shanghai Composite Index, which rose 1.16 percent. China’s Caixin Services PMI fell from 52.7 to 52.5 points in April.
#Mexican #peso #maintains #appreciation #dollar
– 2024-05-10 19:16:35
