This Monday, August 9, dollar started operations in Mexico with an average price of 19.95 pesos. On purchase it is listed at 19.71, while on sale it is at 20.18.
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The dollar rose against its major peers on Monday, hitting a four-month high against the euro as traders positioned themselves for an earlier reduction in stimulus from the Federal Reserve.
The dollar strengthened to $ 1.1742 against the single currency, extending a 0.6% pop from Friday, when a strong US jobs report stoked bets that a reduction in asset purchases could begin this year. and that higher interest rates could follow as early as 2022.
The dollar index, which tracks the greenback against six rivals, rose to a two-week high of 92.915.
The dollar also hit a nearly two-week high of 110.37 yen.
“American payrolls were a game changer,” wrote Chris Weston, head of research at Melbourne brokerage Pepperstone, in a note to a client.
The dollar index is targeting a close above 93, while the currency could head for $ 1.1704 per euro, Weston wrote, adding that it could also rise higher against the yen if US yields continue to rise.
The benchmark yield on 10-year Treasuries rose 8 basis points on Friday to a two-week high of 1.3053%. There was no trade in Tokyo on Monday with Japan closed for a national holiday. The Singapore markets were also closed.
Closing of the Mexican market
The Mexican peso fell on Friday and was heading to close the week with losses dragged by a global strength of the dollar, after the publication of positive data on non-agricultural job creation in the United States during July.
The stock market, on the other hand, closed the day with a slight decline, although it registered its fourth consecutive weekly gain, while investors remained awaiting the vote on an infrastructure plan in the United States at the weekend.
The currency was trading at 20.0422 per dollar near the end of the session, depreciating 0.64% against the Reuters reference price on Thursday. In the week, the peso accumulated a fall of 0.94%.
“This is the second month that the employment data in the United States has exceeded market expectations,” said Gabriela Siller, director of analysis at Banco Base. “(This) supports the speculation that the Federal Reserve will show a change in its stance towards the end of the year,” he added.
The United States Department of Labor reported that 943,000 non-agricultural jobs were created in that country in July, above the 870,000 expected by the consensus of analysts and the 938,000 registered the previous month.
Meanwhile, the benchmark S & P / BMV IPC index, made up of the most liquid stocks on the market, lost a marginal 0.04% to 51,113.85 points, while in the week it advanced 0.48%.
“The positive technical signals in Mexico and on Wall Street could be maintained if this weekend the approval in the United States Congress of President Joe Biden’s infrastructure program for a trillion dollars is achieved,” said analysts from the MetAnálisis consultancy in a report.
In the debt market, the 10-year bond yield rose four basis points to 7.04%, while the 20-year rate rose five to 7.69%.
With information from Reuters