Monday , September 26 2022

The dollar is nervous before the US elections and the peso uses it


The Mexican currency benefited on Monday from the advantage of the lower "appetite" of the dollar on the international market before the mid-term elections in the United States, which will define the maneuvering space with which it will have Donald Trump to strengthen its governmental strategy.

The Bank of Mexico announced that interbank dollar closed at 19.9470 units. On this day, the peso gained 14.30 cents, or 0.71 percent.

Closing below 20 units was not given on October 26.

In bank window, the dollar wallet is sold at 20.25 units, a lower value compared to 20.45, which announced the closure of Citibanamex on Thursday.

The rate climbed to 20,1402 units, while the minimum value was 19,9152 at the 8:40 wholesale market.

The Mexican peso has accumulated two consecutive sessions in the positive territory and gained 1.74 percent.

It should be remembered that no operations for Day of the Dead were done in Mexico last Friday.

Stock market participants increased their position in the pesos, taking advantage of improved risk perceptions, awaiting the results of the renewal vote Congress of the United Stateswhich will take place tomorrow.

The Mexican currency used the advantageous situation it poses on Monday the backward reflection of the dollar on the international market.

An index that measures the dollar's performance against a ten-dollar basket will drop by 0.10 percent.

The value of the services sector, published today, strengthens the expectation that the next Thursday of the federal reserve will not increase its reference rate. The current situation for the dollar was not favorable.

In the United States, it was reported that ISM services reached 60.3 points in October, according to a survey conducted by Bloomberg, higher than expected 59 points.

Mixed behavior is observed in another area on the oil market, a situation that did not contribute to reviving the Mexican currency.

Oil price Western Texas down by 0.27 percent to $ 62.97 per barrel, while the rate Brent increased by 0.21% to $ 72.97.

Internally stresses that in the auction resume expiration exchange of hedges, for 92 days the demand reached $ 235 million, which is 2.35 times higher than 100 million offers.

The course has a resistance of 20.50 units. Support is in the large market of 19.90 pesos.

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