The Mexican peso appreciates at the beginning of the week.

The local currency gains ground at the beginning of a shorter-than-usual week, which will be marked by key inflation data in the United States.

The Mexican peso is trading on Monday with moderate gains against the dollar. The local currency slightly gains ground at the start of a week shorter than usual, but one that will be marked by key inflation data in the United States.

The spot exchange rate is at 16.7054 pesos per dollar. Compared to an official close of 16.7668 units on Friday, according to data from the Bank of Mexico (Banxico), this represents a gain of 6.14 cents or 0.37 percent for the currency.

The price of the dollar is trading in a narrow range between a high of 16.7704 pesos and a low of 16.7120 units. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the greenback against six major currencies, is up by 0.19% at 104.20 points.

Traders are awaiting the release of the Personal Consumption Expenditures Price Index, or PCE, the Federal Reserve’s (Fed) favorite reference, at the end of the week, after the central bank kept its interest rate unchanged midweek.

Investors are monitoring expectations for rate cuts this year, following suggestions of three rate cuts by the central bank this year and comments suggesting only one cut, made by Raphael Bostic, the head of the Atlanta Fed.

The market awaits the release of the Personal Consumption Expenditures Price Index for February, the preferred inflation gauge by the U.S. Federal Reserve

ABOUT THE AUTHOR See More

Gabriel Micillo

Gabriel is a certified public accountant graduated from UNNE (National University of the Northeast, Argentina) and a software developer, currently pursuing a Master's degree in Finance and Economics. With nearly 8 years of experience working for accounting firms and brokerage firms. Concurrently, he has produced economic and financial reports on the current state of regional economies for the clients of the establishments where he has worked. Additionally, he assisted colleagues like Ignacio Teson in the drafting and editing of articles on similar topics in English language.

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