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CITY OF MEXICO.- Mexican currency benefited from the improvement in risk aversion observed in the international market, in response to the truce of the commercial war between United States and its major trading partners.
This resulted in a weakening of the dollar against other currencies
The Bank of Mexico reported that the interbank dollar closed Tuesday at 18.9275 units, its lowest level since April 30 last. By day, the peso gained 29.90 cents, similar to 1.56 percent.
In bank window the greenback is sold at 19.20 units, less than the 19.45 units reported Monday as closing by Citibanamex.
The exchange rate had a maximum of 19.2852 units, while the minimum was 18.9193 units on the wholesale market.
According to Bloomberg, the Mexican peso ranked third among the best-performing currencies among emerging countries
. The first two positions were the Argentine peso and the real peso. Brazilian with advances of 2.10 and 1.76 percent, in each case.
Since the first of July, the date on which the vote took place, the Mexican currency has won 5 times and lost in 2, accumulating a 4.76% appreciation to date
After profit taking reported On Monday, participants in the foreign exchange market go back positions in pesos in an international context where there are still contradictory signals.
On the positive side, there are fewer commercial tensions and favorable behavior observed on the oil market .
The price of West Texas type oil goes from 0.26% to 74.04 $ per barrel, while the Brent rate gains 0.91% to 78.78 $.
While the index that measures the behavior of the dollar against a basket of ten currencies decreases by 0.05%, after gaining 0.38% earlier.
It should be noted that speculative positions in the Chicago market return the Mexican peso, albeit in a somewhat timid manner. After "painting in red" before the vote on July 1, they become positive a week later.
Positions in favor of the peso amounted to $ 151 million on the Chicago-derived market on July 3, according to the latest data released by Bloomberg.
In another area, it appears the fact that in the auction to renew the maturity of currency exchange with a duration of 29 days and due on August 8, the application was of $ 515 million, which exceeded by 2.58 times the 200 million finally placed.
The exchange rate has a resistance at 19.50 pesos. Meanwhile, the nearest support is in 19 units, in the wholesale market.
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