The Mexican peso appreciates at the beginning of the week, approaching resistance levels.

It is worth noting that the 17 pesos per dollar zone is one of the most challenging areas for the Mexican peso. Although it is still at lower levels, the local currency has not been able to clearly surpass this level to approach the 16.80-16.70 range.

The price of the dollar moves within a narrow range between a maximum of 17.0295 units and a minimum of 16.9962 units. The Dollar Index (DXY), which measures the greenback against a basket of six currencies, is trading unchanged at 103.87 units.

This week, traders will receive relevant information. In the United States, non-farm payrolls are expected on Friday. It is also noteworthy that mid-week, Jerome Powell, the Chairman of the Federal Reserve, will testify before the US Congress.

The market will analyze any comments from Powell regarding the expected evolution of interest rates, although no changes in the discourse of no rush are expected.

On the domestic front, the report on February inflation, which will be released by INEGI on Thursday, stands out. Above all, it will be important in anticipation of the Banxico monetary policy decision on March 21, where it could begin to cut its interest rates.

This happens in a context where Mexico’s President Andrés Manuel López Obrador announced that, if there is time and economic conditions allow, they will seek to acquire the concession for 49% of the shares of the Toluca International Airport.

Additionally, he emphasized that the purchase of 13 power plants and three out of nine concessioned hospitals has already been finalized.