Mexican peso operates stable awaiting economic data

The Mexican peso operates stable against American dollar. The local currency shows little change in the face of a decline in the greenback, in a market that expects to obtain more references from the economy to give direction to the price near the end of the year.

The exchange rate spot It is located at the level of 19.8163 units per dollar against an official closing of 19.8289 units on Friday, with the data of the Bank of Mexico (Banxico). This is an improvement of 1.26 cents for the peso, with a variation of 0.06 percent.

The pair operates in a limited range between a maximum of 19.8384 units and a minimum of 19.7220 units. The Dollar Index (DXY), which compares the greenback against a basket of the other six G7 currencies, lost 0.10% to 104.60 points.

Investors expect this week to see data related to consumer prices in both Mexico and the United States, after various central banks said last week that their fight against inflation continues.

“Investors maintain some caution derived from the latest movements of the central banks and a greater expectation of recession,” Monex said. “By the end of the year we expect a decrease in the volume of operations,” he added in his note.

Mexico will publish inflation for the first half of December on Thursday and figures for personal consumption spending in November will be released in the United States on Friday. In the last period of the week, liquidity in the markets could be reduced.

“This week the economic information will begin to be scarce in the United States. In Mexico, on December 22 we will have inflation for the first half of December. We expect headline inflation to show a slight increase,” Actinver said.

jose.rivera@eleconomista.mx