He mexican peso is appreciated before the dollar this Friday morning. The local currency gains ground in the face of a weakening of the greenback after the publication of data from the inflation of the United States that reinforce bets on cuts to the interest rate Federal Reserve.
He exchange rate spot It is located at the level of 18.3774 units per dollar. Faced with the official closure of 18,3952 units, with the registration of the Bank of Mexico (Banxico), its movement means a drop of 1.78 cents for the peso, which is equivalent to 0.10 percent.
He dollar price It moves in a range between a maximum of 18.4184 units and a minimum level of 18.3434. He Dollar Index (DXY), from the Intercontinental Exchange, which compares the US currency with six reference currencies, advances 0.02% to 98.96 points.
The US Consumer Price Index (CPI) rose 0.3% in September, reported the Bureau of Labor Statistics of the Department of Labor. In the 12 months through September, the index advanced 3.0%. Both figures were lower than expected.
“Today, the Mexican peso benefited from the inflation figure in the United States, while operators evaluated the president’s decision donald trump to finalize negotiations with Canada for a Canadian television campaign against tariffs,” Monex said.
The inflation data is the first major official reference published in the United States since the US government shutdown began, which today reaches 23 days. During the period, the publication of labor indicators relevant to monetary policy has been suspended.
According to CME’s FedWatch tool, which follows operations with futures of the federal funding rate, operators discount with 96.7% probability an adjustment of 25 basis points in the interest rate, at the next meeting of the central bank, on October 28 and 29.
“The Mexican currency remains supported by its attractive interest rate differential. An operating range between 18.35–18.48 pesos is expected, with a slightly appreciative bias if the markets maintain the optimistic tone,” said Felipe Mendoza, analyst at ATFX Latam.
