Citibanamex The dollar sells for 20.69 pesos, while Jigsaw Working at 20.55 pesos, BBVA Mexico At 20.52 Azteca Bank At 20.99 and Santander At 20.24 units.
The peso fell while the dollar showed general strength, and the market was awaiting the economic indicators that will be published this week, both domestically and internally. United State.
How is the exchange rate going?
Primary bank He explained in a report that the peso starts the session with a decrease of 0.47 percent, or 9.4 cents, and is trading about 20.25 pesos per dollar. The devaluation of the peso is due to reduced risk appetite in global financial markets, which has increased the demand for dollars in the foreign exchange market.
The least risk appetite comes from the capital market, where weakness was observed for the second consecutive session in firms in the tech sector that the pandemic was a favorite of. Because of the above, the Standard & Poor’s 500 Possibly the session will start with a 0.22% retracement Nasdaq 100 with a decrease of 0.81 percent, ”he explained.
Overnight, caution was also noted while awaiting trade balance data for United State Corresponding to March, which showed growth in the trade deficit to its highest level ever. The trade balance during the month of March showed a deficit of $ 74.4 billion, up by a monthly rate of 5.6 percent. Specifically, imports from Mexico ($ 33.4 billion) recorded their highest levels ever.
At the moment, interest rates in the bond market are still stable, so the price of the 10-year Treasury starts unchanged at 1.60%.
On the other hand, the Engy Spread System of Concurrent and Leading Periodic Indicators (SICCA) Corresponding to February 2021, Which indicates an improvement in the current state of the economy, as well as future expectations.
The coincident index, designed to position the Mexican economy at a particular point in the economic cycle, showed an increase of 0.3 points after falling for two consecutive months. Although the economy is in the recovery phase of the cycle. “
However, such a major recovery is not expected in the economy, as there are still challenges related to the Coronavirus, especially the slow progress of the vaccination campaign. Likewise, the labor market situation continues to be severely affected by the epidemic, which limits household disposable income and discourages consumption, which accounts for nearly two-thirds of the total. Mexico’s GDP. Finally, low private investment, combined with the president’s austerity program, complicates economic growth by not focusing resources on productive activities with a multiplier effect.
Dollar in real time
The euro It is sold at the window for a maximum of 24.85 pesos and purchased at 24.33 pesos. For this part, Sterling pound They are offered at 28.45 pesos and are taken at 28.05 Peso.
The The Bank of Mexico (BanxicoThe previous session was recorded at an exchange rate of 20.19 pesos Per dollar.
With information from Reuters