Most analysts agree that the market continues to react to a weak US employment report last week, which fueled bets that the Fed would cut interest rates sooner than expected.

The Mexican peso appreciates against the dollar this Monday. The local currency advances amid a global weakening of the greenback, at the beginning of a week that will be marked by local inflation figures and the monetary policy decision of the Bank of Mexico.

The spot exchange rate is at the level of 16.9113 units per dollar. Compared to an official closing of 16.9623 units yesterday, according to data from the Bank of Mexico (Banxico), this level implies an improvement of 5.10 cents, which is equivalent to 0.30 percent.

The dollar price is trading in a narrow range with a maximum of 16.9857 pesos and a minimum level of 16.9049 pesos. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the greenback against a basket of six currencies, falls 0.10% to 104.93 points. It is expected that Banxico will leave the interest rate unchanged at 11% because inflation has not shown a downward trend for six months and recently upward pressures have increased.

Analysts agreed that the market continued to react to a weak US employment report last week, which boosted bets that the Fed would cut interest rates earlier than expected and twice this year.

With no relevant data for this session, investors await speeches from Richmond Federal Reserve Bank President Thomas Barkin and New York Federal Reserve Bank President John Williams at public events today.