The peso descended on Monday in the midst of a widespread rise in the dollar in external markets, after data that showed a drop in industrial production at the local level.
The peso quoted in 18,6260 per dollar, with a decrease of 0.33% compared to 18,5650 units of the LSE reference price on Friday, after scoring a weekly gain.
“The attention of the markets this week will be in the inflation of July in the US, we estimate 0.2% m/m, with which the annual rate would rise to 2.8% from 2.7%. We will be very aware of the goods within the underlying in the face of fears of increases due to the imposition of tariffs,” said Banorte.
The markets are also attentive to the term of a commercial truce between the United States and China that expires on the 12th of this month.
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Peso falls after local industrial production and dollar progress
On the other hand, the Mexican Stock Exchange (BMV) traded stable on Monday, after accumulating profits last week, while investors awaited US economic data this week, especially inflation.
The leading S&P/BMV IPC share index operated at 58,103.93 points with a slight rise of 0.06% shortly after the opening of the businesses.
“This week will be marked by an agenda loaded with economic data in the United States, with special attention to inflation indicators. On Tuesday the July inflation report will be announced, after work figures that increased the expectations of feat cuts,” Actinver said in a report.
“The projections suggest that inflation could be located about 2.8%, a surprise above 3% could avoid a rate adjustment at the next meeting.”
With Reuters information.
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