The peso followed on Tuesday the performance of the greenback in international markets and showed a slight appreciation, as the dollar weakened, and investors were attentive to economic indicators and the corporate results of large banks.
According to Bloomberg data, the peso posted a marginal gain of 0.07 percent and is listed at 18.7884 units.
In bank window, the greenback closed in 19.08 units, lower than the closing reported by Citibanamex on Monday.
The Bloomberg index, which measures the strength of the greenback against a basket of ten currencies, gained just 0.01 percent, at 192.94 points.
On closing the session, he stressed that it is likely that existing tariffs on Chinese products will remain in effect until after the US presidential elections, and any measure to reduce them will depend on Beijing’s compliance with the terms of the ‘phase 1’ agreement, they told Bloomberg sources familiar with the matter.
Both powers have the understanding that, no later than 10 months after the signing of the agreement, progress will be reviewed and tariffs now in force over 360 billion in imports from China may be cutcommented the people who asked not to be identified.
“The only non-public component of the agreement is a confidential annex with detailed purchase quantities, which has been described above,” said Robert Lighthizer, a US trade representative.
“There are no other oral or written agreements between the United States and China on these issues, and there is no agreement for a future tariff reduction,” Steven Mnuchin added in a joint response.
On Monday, the US government withdrew China from its watch list of currency handlers before the signing scheduled for Wednesday of the ‘phase one’ trade agreement, a measure that was received with a mixture of relief and caution.
Merchants applauded the movement, pushing the yuan to its strongest close in almost six monthsBut they were skeptical about a statement that coincided with a relaxation between Washington and Beijing.
The operators showed some caution prior to the publication of the reports of the large banks that started the earnings season showing mainly solid results.
In economic data, the consumer price index in the United States showed a 0.2 percent advance at the monthly rate at the end of 2019.
Inflation during December was explained by an increase in energy inputs, highlighting the monthly increase of 2.8 percent in the cost of gasoline, while in contrast, energy services reported a fall due to a contraction of 0.5 percent in the cost of electricity; in addition, the continuous rise that have been showing food prices in recent months; and a 1.5 percent advance in the cost of services related to medical care.
In interventions by Fed members, John Williams, president of the New York Fed, said at an event in London that unethical behavior persists in banking, particularly during the financial crisis.
Separately, Esther George, president of the Kansas City Fed, said the independence of the central bank encourages better results and said she feels comfortable keeping interest rates on hold for now and added that she expects the US economy to grow between 1.75 – 2 percent during this year.
In Asia, China unveiled the trade balance, where exports and imports showed a growth of 7.6 percent and 16.3 percent, exceeding market expectations.
Despite this, there was a drop in the trade relationship with the United States, which in the year fell by about 11 percent, the product of the sustained commercial war.
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