MEXICO CITY.- The weight on Tuesday had its broader depreciation since June 20 due to a generalized progress of the dollar caused by an inflation fact in the US.
The exchange rate was 18,8188 pesos per dollar, a decline for the national currency of 0.48% compared to the previous session, according to Banxico closing data. With today’s figure, the weight spun three sessions with depreciation.
The strength of the dollar was due to the publication of the inflation data during June in the United States, the Base Financial Group explained in a analysis note.
He explained that the indicator advanced 0.29% in its monthly comparison, accelerating strongly from 0.08% in May, and was the largest increase since January.
Base explained that inflation in the US was slightly above the market expectation, of 0.26%.
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At an annual rate, inflation was 2.67%, accelerating from the 2.35%observed in May and slightly above the market expectation, 2.64%.
Base added that Federal Reserve officers (FED) gave statements considered as restrictive.
“The rise in inflation, together with the restrictive statements of the FED officers, led the market to anticipate less cuts in the interest rate in the year,” he said.
Monex agreed that the peso was affected by the strengthening of the dollar after evaluating the inflation data in the US, “aspect that reinforces the vision of caution of the Fed in future meetings.”
“Towards the Overnight, we would expect the weight to oscillate in a range between $ 18.75 and $ 18.89, considering the progress of the dollar, prior to knowing the inflation report to the producer and industrial production of the USA tomorrow,” he said in a report at the end of the session.
Reuters indicated that after this inflation data, the operators continue to bet that the Fed would keep their interest rates in their next meeting of July 29-30 to begin reducing the costs of short-term loans in September.
The news agency added that the retreat of weight is also given in an attentive market for news about the commercial policies of the US government.
In the morning, President Claudia Sheinbaum said that options were analyzed to support Mexican tomato producers after the application of a compensatory quota of 17% to product imports in the United States.
Bag advances 0.21%
The referential index S&P/BMV IPC of the BMV rose 0.21% to 56,482.91 points, after two days of losses, with the gaze of the participants put in the publication this week of the first reports of the season of corporate results of the second quarter.
In the debt market, the primary yields of the Treasury Certificates (CETES) descended at the weekly auction of government values, in most of its deadlines.
The CETE 28 -day referential rate was placed by 7.65%, 20 base points below its previous auction.
With information from Francisco Rivera and Reuters
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