The peso “enjoys” Valentine’s Day: in the week of love it surpasses the dollar
Posted in ECONOMY He
The Mexican peso enjoyed Valentine’s Day, ending the week of Love and Friendship with gains against the dollar.
According to the Bank of Mexico (Banxico), the currency ended the day at 17.0490 units for a dollar.
According to data from ReutersOver the week, the currency accumulated a yield of 0.13 percent.
“Although the peso has been rising in price for three weeks in a row, the exchange rate showed neutral dynamicsconsolidating in a channel between 17.00 and 17.10 pesos per dollar,” Banco Base said in a research note.
“The market appears to be waiting for the release of new indicators or news that will impact future expectations for the Mexican economy,” he added.
At the moment, on the Chicago futures market, bets in favor of a strengthening of the Mexican currency rose to 100,454 contracts, the highest level since March 2020.
Mexican peso: this is how it was quoted in the Friday session
Despite a weekly gain, the peso fell marginally from Thursday’s price after a better-than-expected US producer price report. erasing speculation about an imminent interest rate cut by the Federal Reserve (Fed) USA.
Towards the end of the business Reuters reported a 0.09 percent impairment from the agency’s benchmark price on Thursday.
“We expect this morning’s US producer inflation data and the tone of the latest members Fed continues to delay expectations for first interest rate cut“, says Grupo Financiero Ve por Más in a research note.
Mexican Stock Exchange: how did it go?
The benchmark S&P/BMV IPC stock index fell 0.21 percent to 57,132.11, for a weekly decline of 0.34 percent, in a market also closely watching fourth-quarter corporate earnings season.
Retailer and bottler positions FEMSA They led the session’s declines, falling 6.21 percent to P227.14, their worst fall since July 2022, after announcing an investment and capital return plan the day before that did not fully convince the market.
The company’s shares reached an all-time high of 245 pesos yesterday. _According to Reuters