The soul brings you back to the weight

MEXICO.- The soul returned to the peso after the elected president, Andrés Manuel López Obrador, said at a press conference that he had no plans to change bank laws during his first three years of government.

With that, the Mexican currency has recovered some of the ground lost in the last three days.

The interbank dollar closed Friday at 20.3555 units, a minimum unmatched since June 20, according to the Bank of Mexico. That day, the peso lost 22.05 cents, or 1.10 percent.

However, after the closing announced by Banxico, the statement of López Obrador was made, a situation that led to the exchange rate of the peso with a dollar reaching a minimum of 20.05 units.

At the bank, the bank note is sold at 20.40 units, less than the 20.45 units declared Thursday at the closing by Citibanamex.

Nevertheless, the peso recorded a negative weekly balance, accumulating a depreciation of 1.32%.

It should be noted that the Mexican currency has reported losses for five consecutive weeks.

The position of the elected president of Mexico has changed somewhat to move to three days that shook the peso, because of the effects related to the fear that a change of power struggle at the North American Congress could hinder the approval of the trade agreement between the United States, Mexico and Canada, to which the strengthening of the dollar, the expectation of higher rates of Fed and the fall oil price.

The index that measures the performance of the dollar against a basket of ten currencies is progressing 0.18 percent, a situation that negatively affects the Mexican currency.

In the United States, it has been reported that producer prices rose surprisingly by 0.6% in October, above 0.2%, according to a survey by Bloomberg.

Although the index measuring consumer confidence, established by the University of Michigan, reached 98.3 points in November, which is better than expected on average in the market.

Rising inflationary pressures and improving consumer confidence are factors that reinforce the hope that the Federal Reserve will again raise its benchmark next month.

While in China, producer price growth fell to 3.3% in the tenth month of the year, which is lower than the rate of 3.6 in September. This situation keeps the yellow lights on the Asian giant's economic health status.

While the Commercial war between the United States and China it remains at the center of market concerns because of its negative impact on global economic growth.

On another front, we observe a weak behavior in the oil market, which also contributes to the sale of the Mexican currency.

The price of crude oil from West Texas dropped 1.04% to 60.03 dollars a barrel, while that of Brent lost 0.89% to 70.02 dollars.

Internally, he points out that in the auction to renew the expiration of currency hedgewithin 32 days, the request was aimed at $ 355 million, superior in 1.78 times to 200 million offered.

The exchange rate has a resistance of 20.50 units. While the support is 19.70 pesos, on the wholesale market.