The Mexican peso experiences a slight appreciation a day before Jerome Powell’s remarks

The price of the dollar is moving within a narrow range, with a maximum of 16.9900 units and a minimum of 16.9449 units. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the greenback against six currencies, is up 0.01% at 103.84 units.

Investors continue to await further economic information and the testimony of the Fed chairman before the US Congress, who could reinforce the message that he is in no hurry to cut rates. On the local front, market attention is focused on the February inflation report that INEGI will release on Thursday, at a time when the market expects Banxico to cut its key rate at its next decision at the end of March.

This happens in a context in which President López Obrador labeled the statement of the High Commissioner of the United Nations as tendentious after the organization said the level of violence in the electoral process was concerning.

In total, 25 attacks against pre-candidates and former candidates for popular positions have been registered; in addition to homicides, one kidnapping has been reported, as well as threats and shootings.