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Mexico City – The peso closed on Friday its best sexennial week, supported by the global weakness of the dollar, and the honeymoon between the country's business leaders and Andrés Manuel López Obrador, who has sent stability messages, reported yesterday El Financiero newspaper.
The Forex Wholesale Forex market page indicates that Monday at noon, when the election of Lopez Obrador was already clear, the dollar reached a maximum level of 20 pesos with 20 cents. Yesterday, closed 19.05, a gain of 5.7% for the peso
While the currency was falling
Throughout the week, as the virtual president began to dialogue and dispel the concerns of the country's entrepreneurs, the currency was down and yesterday at the close, at 15:00, it was listed at 19:05, a drop of 5.7%, a percentage never seen in the presidency of Enrique Peña Nieto, according to the statistics of this wholesale market.
According to El Financiero, the peso extended its positive performance on Friday in a context of increased trade tension between the United States and China, which negatively affected the value of the dollar.
The Bank of Mexico reported that the interbank dollar closed at 19,0945 units, the lowest level since May 3. The day, the peso gained 13.55 cents, as 0.70%, reports the specialized media in the financial news.
In the banking machine, the greenback was sold at 19.40 units, lower compared to the 19.50 units reported Thursday. as closing by Citibanamex.
In the Ciudad Juarez exchange centers the average price of the currency fell from 19.77 to 19 pesos between Monday and Friday, according to the survey conducted daily by El Diario.
According to Bloomberg, the peso was ranked as the most successful currency among those belonging to emerging countries. Second and third place corresponded to the Argentine peso and the Colombian peso with advances of 3.02 and 1.96%.
The peso faced this Friday a scenario where conflicting signals prevailed, accompanied by the confidence that Andres Manuel López Obrador's conciliation policy, after his virtual triumph by voting last Sunday, reports El Finaciero.
On the positive side for the Mexican currency is the decline of the dollar internationally, after the publication of mixed economic figures that point to gradual increases in the Federal Reserve rate and trade tensions.
The index that measures the behavior of the greenback against a basket of ten currencies fell 0.35 percent.
The administration of Donald Trump began applying tariffs on Friday to imports from China for the equivalent of $ 34 billion. The Asian giant has returned the blow, applying rates for a similar amount to the purchase of products from the United States.
Also in the United States, it is reported that job creation reached 213,000 jobs in June. the estimated 195 thousand, according to a survey raised by Bloomberg.
While the unemployment rate rose to 4 percent in the sixth month of the year, higher than the previous 3.8 percent. While the average hourly wage has increased by 0.2 percent, it is higher than the average 0.3 estimated by the market.
The US trade imbalance with the outside declined moderately in May, while it was 43,100,100 million dollars, situation that shows that the existence of "the United States. a strong dollar is not favorable.
The numbers indicate that the Fed will not move its rate at the August meeting, but the likelihood of doing so in September is high. 19659004] On another front, a mixed performance is observed in the oil market, a situation that limits the recovery potential of the Mexican currency.
The price of West Texas crude oil gained 0.89 percent to 73.66 dollars a barrel, while the Brent crude oil rate fell 0.54 percent to 76.97 dollars.
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