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Breaking Down the Barriers
CITY OF MEXICO.- The peso broke the "support" price by 19.00 units and climbed to 18.90 pesos for a dollar, motivated by the prospect that the possibility exists that the Banco de México (Banxico) has tightened its monetary policy further because of inflationary pressures.
Yesterday, Banxico reported that the spot dollar closed at 18.9275 units, the lowest level since April 30. By day, the peso gained 29.90 cents, similar to 1.56%. At the bank's window, the greenback closed for sale at 19.25 units, lower than the 19.45 reported on Monday at the Citibanamex closing.
The exchange rate showed a maximum at 19.2852 units, while the minimum was at 18.9193 On the wholesale market, the Mexican peso ranks third among the best-performing currencies among those belonging to emerging countries, according to Bloomberg. The first and second place went to the Argentine peso and the Brazilian real with advances of 2.10 and 1.76% in each case.
Since the first of July, when the vote took place, the Mexican currency has won 5 times and lost 2, accumulating an appreciation of 4.76% so far.
After profit-taking reported on Monday, exchange market participants return to the pesos position, in an international context where
On the positive side, there is less commercial tension and favorable behavior observed in the oil market .
The index that measures the behavior of the dollar against a basket of ten currencies fell 0.05%, after gaining 0.38% earlier.
It should be noted that speculative positions in the Chicago market are again betting on the Mexican currency, although still in a timid form. After painting in red before the July 1 vote, they became positive a week later.
Pro-peso positions amounted to $ 151 million in the Chicago derivatives market on July 3. with the latest data published by Bloomberg.- El Financiero
Market Indicator
Wall Street closed yesterday with gains, with positive investors before the results of key companies.
Close in green
operations, the Dow Jones added 143.07 points, up to 24 919.66 points, while the S & P 500 selective advanced 0.35% or 9 , 67 points, at 2,793.84 units. In contrast, the Nasdaq composite index gained 0.04% or 3.00 points, to reach 7,759.20 points.
The IPC traces
The main indicator of the Mexican Stock Exchange, price and price index (CPI), it fell 0.5% Tuesday and closed the day at 48,990.92 units, 244.89 points lower than the day before
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