Mexican peso holding steady on Monday as investors await the CPI release.
As long as the dollar does not recover against most currencies, it might remain in a sideways trend.
With no significant changes in the market and no economic references set to be released today, the currency advances as it awaits tomorrow’s inflation figures in the United States.
The Mexican peso is trading with a marginal gain against the dollar on Monday morning. With no significant changes in the market and no economic references set to be released today, the currency advances as it awaits tomorrow’s inflation figures in the United States.
The spot exchange rate is at the level of 16.7977 units. Compared to the official closing rate of 16.8077 units per dollar from the Banco de México (Banxico) on Friday, this represents a gain of one cent or a marginal 0.06 percent for the Mexican currency.
The price of the dollar is trading within a range, with a high of 16.8175 pesos and a low of 16.7822 units. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the dollar against a basket of six currencies, is up slightly by 0.02% at 102.74 points.
The weakness of the dollar favors the appreciation of the Mexican peso. Oversold indicators open the possibility of a rebound, but as long as the dollar does not recover against most currencies, it might remain in a sideways trend.
In the United States, inflation figures for February will be released tomorrow. These data will be among the most important of the week, which will not have other major references, with investors attentive to clues about the future of Fed rates.
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