The Mexican peso starts the week with a marginal advance against the dollar in the middle of a session characterized by low liquidity, since the markets in the United States are closed for Martin Luther King Day holiday.
According to Bloombergthe appreciation of the peso against the dollar is barely 0.06 percent, so The exchange rate is located at 17.62 units2 cents less compared to the close of Friday, January 16.
“This closure of the financial markets in New York drastically reduces liquidity and transactional volume, leaving the peso in a zone of technical consolidation while local investors begin to digest a weekly agenda loaded with fundamental data (retail sales, biweekly inflation and economic activity), said Felipe Mendoza, CEO of IMB Capital Quants.
The analyst added that Donald Trump’s offensive to acquire Greenland also causes ‘noise’ in the market: Over the weekend, the US president announced 10 percent tariffs on countries that oppose the purchase of the island. In response, the European Union is considering restricting access to American companies and applying its own set of tariffs.
Price of the dollar in Banamex this Monday
The Banamex bank reported that the dollar is sold at 18.09 pesos, while the purchase price is 17.11 units for each green bill.
In the money market, the yield on the 10-year bond for the United States is 4.25 percent, while the 10-year bond in Mexico remains at a level of 9.10 percent.
The currency that depreciates the most against the dollar is the Israeli shekel with 0.51 percent. They follow him the Indonesian rupiah with 0.34 percent; the chilean peso with 0.21 percent, and the south african rand with 0.19 percent.
With information from Valeria López
