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The peso appreciates against the dollar at 20.25

The peso closed the session with an appreciation of 0.22% or 4.5 cents, trading around 20.25 pesos per dollar.

In the session, the exchange rate traded in a channel between 20.2395 and 20.4343, without a defined direction, a sign that the peso-dollar parity is in a process of consolidation around the level of 20.30 pesos per dollar.

The lack of trend is due to the uncertainty regarding the pandemic and the future of the global economic recovery.

The rest of the foreign exchange market showed a mixed performance, with currencies such as the South African rand losing 0.40%, while the Brazilian real appreciated 1.89 percent.

Likewise, there were losses and gains of foreign exchange of advanced economies, so there was not a consistent pattern with a higher perception of risk.

A mixed performance was also observed in other financial markets. In the United States capital market, losses were observed for the Dow Jones with a decline of 0.56%, the S&P 500 with 0.48% and the Nasdaq with 0.21 percent.

For its part, the IPC of the Mexican Stock Exchange advanced 2.84%, while the Ibovespa of Brazil closed with a gain of 0.75 percent.

It should be noted that the positive performance of the capital market in Mexico is due to the fact that it captured the gains of the financial markets in Monday’s session, when the local market remained closed.

The peso and oil

In the commodity market, commodity prices also had a mixed performance.

The price of WTI advanced 0.24% to 41.44 dollars per barrel, while Brent rose 0.11% to 43.87 dollars per barrel.

On the contrary, the price of gold lost 0.16%, closing at 1,885.93 dollars per ounce.

Among industrial metals, the price of aluminum advanced 1.29%, while the price of copper fell 0.65 percent.

During the week, it is likely that the main determinant of the performance of financial markets globally will be the news about the coronavirus, both of the advance in the number of infected and dead, and in the process of authorizing an effective vaccine against Covid-19.

Indicators of Banxico

In the session, the euro touched a low of 1.1843 and a high of 1.1894 dollars per euro. Finally, the euro peso touched a minimum of 24.0150 and a maximum of 24.2647 pesos per euro.

At the close, the interbank quotes for sale stood at 20.2691 pesos per dollar, 1.3253 dollars per pound and 1.1863 dollars per euro.

 

Gabriela Siller; PhD

Director of Economic-Financial Analysis.

Banco BASE

 

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