The Mexican peso weakened on Tuesday after two periods of gains following the release of local data that showed headline inflation accelerated more than expected in December, although the benchmark index continued to decline.
The national currency was quoted at 16.87 per dollar.with a reduction of 0.35% compared to the base price Reuters on Monday, when it reached levels not seen since late August.
“Today the market received news of a rebound in December inflation in Mexico, which reinforces the vision of lower inflation. key interest rate“Bansico at the March meeting,” Monex Grupo Financiero said in a research note.
At the moment, the attention of global investors is focused on the comments of the Vice President for Supervision of Federal ReserveMichael Barr, during his appearance on “Regulating Banks,” moderated a debate featuring women in housing and finance in Washington, D.C., later in the day.
According to Banco Base analysts, the peso is expected to fluctuate between 16.82 and 16.95 per dollar until the end of the session.
Mexican Stock Exchange On Tuesday, it fell in line with the dynamics of foreign markets due to investor caution ahead of the publication of a key report on inflation in the United States.
He leading S&P/BMV IPC indexShares in the company, which combines the most traded stocks in the domestic market, fell 1.11% to 55,550.01 points shortly after the open, in a second day of losses.
Media giant titles Televisa Group led the decline on Tuesday, falling 3.36% to P10.07, followed by miners. Mexican groupwhich remained 2.74% at P89.19.Reuters
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
