[ad_1]
© Reuters.
By Carjuan Cruz
Investing.com – The contraction that the economy suffered in the third quarter put even more pressure on the one that already accumulated a depreciation of 1.34% in four consecutive days, retreating.
Today the currency stands at 20.55 pesos per dollar, depreciating 0.94%, after the publication of the national GDP data for the third quarter, which reflected how Mexico’s economic activity fell 0.23%.
The indicator was affected above all by a fall in the tertiary sector of 0.6%, the area most affected by the third wave of Covid-19 caused by the Delta strain, in addition to the changes made in the service area such as the new legislation of the outsourcing.
Other factors also affect the exchange rate, the report of the large technology companies, Apple (NASDAQ 🙂 and Amazon (NASDAQ :), below expectations, caused a rise in the yield of Treasury bonds and favored the dollar.
“Weak reports from technology companies, inflationary fears and doubts about the global economic recovery are the elements behind that justify today’s decline,” explains Jorge Gordillo, director of economic and stock market analysis at CIBanco.
“For the rest of the day, the exchange rate could fluctuate between $ 20.38 and $ 20.53 spot; and the euro between $ 1,162 and $ 1,166 ”, projected the expert.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
[ad_2]