The peso had its best advance against the dollar since May 5 am in the midst of renewed concerns about the United States commercial policies, after President Donald Trump threatened to raise tariffs to aluminum and steel.
The dollar was 19,1998 pesos, an appreciation for the national currency of 1.01%, according to Banxico closing data. In addition, the weight remains at its best level since mid -September.
The DXY dollar index was pressed down and closed with a 0.66% depreciation compared to the previous closure, according to a report by the Monex Financial Group.
“The weight benefited from less nervousness in local markets and for the decline of the dollar, after considering the growing commercial tensions with China and the weak economic data in the US,” he said in a report.
Investors also await a week of important economic data, including an expected monthly report on the situation of US employment.
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“This week, the behavior of the exchange rate will be following the development of the international commercial issue, in addition to the publications of the labor market in the United States,” said Monex Financiero.
Despite the good start of the week, a central bank survey between private analysts showed that the market expects the peso to give up land in the coming months and close the year at 20.50 per dollar.
Even so, the perspective is more favorable than the 20.81 projected in the survey a month ago.
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In the morning, Chicago Fed Chief, Austan Goolsbee, said he continues to think that the American central bank will be able to reduce the short -term indebtedness costs once the “air dirt” of uncertainty for tariff policies is cleared.
BMV yields 0.24%
The S&P/BMV IPC stock index decreased 0.24% to 57,705.48 points, on its third day of losses after having reached its historical maximum week last week.
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Gruma shares led the recoil, with 3.75% less than 351,81 pesos, followed by those of Grupo Bimbo, which subtracted 3.30% to 52.42 pesos.
In the secondary debt market, the 10 -year bonus yield amounted to three base points to 9.36%, while the 20 -year rate rose four, to 10.04%.
With information from Francisco Rivera and Reuters
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