The Mexican peso closed stable this Monday against the American dollar. At the beginning of the week, the local currency remained practically unchanged, in a market that awaits new inflation data in the United States.
The exchange rate ended the day at 20.3231 units 20.3390 units on Friday, with official data from the Bank of Mexico (Banxico). That meant it appreciated marginally, 1.59 cents, which is equivalent to 0.08 percent.
After a positive week for the markets, thanks in part to positive figures for the US nonfarm payroll, traders expect that inflation in that country will offer signs of future decisions by the Fed.
The US central bank recently decided to phase out its massive asset purchases to end support in June. Traders speculate on when it will decide to raise its rates.
“It is likely that the inflation data will resume speculation about when the Fed could raise rates. The markets are in a phase in which they oscillate between bets of increases before or in line with the planned”, explained CI Banco.
On the day, the parity remained stable between a maximum of 20.4254 units and a minimum of 20.2924 units. The Dollar Index (DXY), which compares that currency with six reference currencies, fell -0.28% to 94.06 points.
“The parity found support last week at 20,3400 units. Today, Monday, although volatile, the exchange rate oscillates around that level, stuck at its 55-day moving average,” the ActivTrades firm explained in a report.