The peso closed the session with few changes compared to the previous week’s closing, with a moderate depreciation of 0.08%, with the exchange rate hovering around 19.97 pesos per dollar after hitting a maximum of 19.9786 and a minimum of 19.8924 pesos.
The day was characterized by less liquidity in global markets, due to the fact that some financial markets remained inactive.
In the United States, markets were shut down due to Presidents’ Day, while in China, Hong Kong and Taiwan markets were inactive for the Lunar New Year holiday period.
In some stock markets and in the foreign exchange, a greater appetite for risk was observed, due to a better economic expectation due to the progress made by the immunization campaign against SARS-COV-2 at a global level.
This brings with it a better outlook on the economic recovery.
In fact, in the morning the preliminary estimate of Japan‘s GDP for the fourth quarter of 2020 was published, which showed a quarterly advance of 3.0%, above the 2.5% expected by the market.
With this, the Japanese economy would have contracted by 4.8% in 2020, a smaller drop than that registered in 2009 after the Great Recession (-5.7 percent).
Japan’s Nikkei 225 led gains, advancing 1.91 percent.
On the week, the euro hit a low of 1.2117 and a high of $ 1.2145 per euro.
Finally, the euro peso touched a minimum of 24.1468 and a maximum of 24.2281 pesos per euro.
At the close, the interbank quotes for sale stood at 19.9660 pesos per dollar, 1.3906 dollars per pound and 1.2127 dollars per euro.
Gabriela Siller; PhD
Director of Economic-Financial Analysis.