The Mexican peso gained moderately on Friday after data on job creation for December in the United States came out below expectations, and that local inflation figures encouraged a new increase in the benchmark interest rate next month.
The local currency was trading at 20.4474 per dollar, up 0.19% compared to 20.4860 in the Reuters reference price on Thursday. Before, the peso momentarily traded in negative territory.
The U.S. Department of Labor said 199,000 jobs were created in December, up from 249,000 the previous month. A Reuters poll of 65 economists had forecast job creation to rise to 400,000.
The report was expected by investors to get clues about the next steps from the US Federal Reserve, which could raise rates faster than expected due to inflationary pressures.
Meanwhile, Mexico’s year-on-year inflation closed last year well above the central bank’s target. The National Consumer Price Index (INPC) stood at 7.36% in December, according to figures released on Friday by the statistical institute, INEGI. Analysts projected it to accelerate to 7.51% from 7.37% in November, the highest record for the variable since January 2001.
Reference-www.eleconomista.com.mx