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The peso gains against the dollar: It is listed at 20.13 units

The peso closed with a moderate appreciation of 0.14% or 2.7 cents, trading around 20.13 pesos, with the exchange rate touching a minimum of 20.0718 and a maximum of 20.2185 pesos.

During the session, the exchange rate was stable, at the same rate as the US dollar.

The peso momentarily erased its gains around 2:00 p.m., at the same time that the US dollar strengthened for a short period of time. The dollar-weighted index closed little change, losing 0.02 percent.

Meanwhile, the performance of the exchange rate during the session indicates that market participants are calm, awaiting the demand that the auctions of government securities in the United States will face in later sessions.

Today, the auction of 38 billion dollars in 10-year Treasury bonds faced a demand of 2.36 times what was placed, in line with previous auctions, reaching a rate of 1.68 percent.

In the secondary market, the 10-year Treasury bond rate showed an increase of 1 basis point, reaching 1.67 percent.

The peso

Tomorrow the publication of inflation in the United States will be key, which could be around 2.5% per year.

If expectations are exceeded, the inflation data could generate upward pressure on the rates of Treasury bonds, which is why the auction tomorrow of 24 billion dollars in 30-year bonds is also very important, the results are published at 12:00 hours.

It should be remembered that inflationary pressures in the United States and increases in interest rates tend to reduce the demand for pesos in the short term, so the exchange rate could see upward pressures during the week.

Laboral sector

Regarding economic indicators in Mexico, during the session the IMSS published that 88.77 thousand jobs were created in March, accumulating a job creation of 251.97 thousand during the first quarter.

It should be remembered that in the first quarter of last year only 61.51 thousand jobs were created.

Although the data for the first quarter show that the labor market recovery continued, they are evidence of a slow recovery, as it was the first quarter with the lowest job creation since 2013, excluding 2020.

In the session, the euro touched a minimum of 1.1871 and a maximum of 1.1919 dollars per euro. Finally, the euro peso touched a minimum of 23.9044 and a maximum of 24.0736 pesos per euro.

At the close, the interbank quotes for sale stood at 20.1340 pesos per dollar, 1.3744 dollars per pound and 1.1909 dollars per euro.

 

Gabriela Siller; PhD

Director of Economic-Financial Analysis.

Banco BASE

 

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