The peso is advancing due to a global weakening of the greenback, as concerns over the Middle East diminish and the market awaits key economic figures.

The Mexican peso is gaining ground this Tuesday morning. The local currency is advancing due to a global weakening of the dollar, as concerns over tensions in the Middle East diminish and the market awaits economic figures.

The spot exchange rate is at 16.9922 units per dollar. Compared to yesterday’s official closing of 17.1389 units by the Bank of Mexico (Banxico), this represents a gain of 14.67 cents, equivalent to 0.86 percent.

The dollar price is operating in an open range with a high of 17.1565 pesos and a low of 16.9832 pesos. The Intercontinental Exchange Dollar Index (DXY), which measures the greenback against six currencies, is down 0.30% at 105.76 units.

The appreciation of the Mexican peso signals a consolidation of the exchange rate at current levels, as market participants await relevant economic information this week. Among the upcoming data, Mexico will release inflation figures for the first half of April on Wednesday, while the first-quarter Gross Domestic Product (GDP) of the United States will be announced on Thursday.

Meanwhile, the Mexican stock exchanges are operating with marginal losses this Tuesday morning. Local stock indices are retracting after posting significant gains yesterday, in a session where they recorded three consecutive advances.

The main index, S&P/BMV IPC, of the Mexican Stock Exchange (BMV), which measures the most traded local stocks, was down 0.12% at 56,486.33 points. The FTSE BIVA, of the Institutional Stock Exchange (Biva), fell 0.12% to 1,159.31 points.