The price of the dollar in Mexico operates downwards due to a global weakening of the greenback, after knowing that both retail sales and producer prices in the United States fell more than expected by investors in December.
The exchange rate is listed at 18,604 pesos per dollar, according to Reuters data.
“Traders digest economic figures in the United States”, said local firm CI Banco in an analysis note.
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“Both indicators could give additional strength to bets among investors that the Fed would be close to pausing its interest rate normalization process and also add to its speculation that the authority would have to lower them before the end of 2023.″, he added.
dollar globally
The dollar fell sharply on Wednesday after a series of weak data suggesting the US economy is finally slowing against a backdrop of a series of large rate hikes from the Federal Reserve.
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The reports on Wednesday reinforced expectations that the Fed will continue to reduce its pace of tightening in upcoming meetings.
US retail sales fell more than expected in December, as purchases of motor vehicles and a variety of other goods declined, putting consumer spending and the broader economy on a weaker growth path in 2023.
Source: Gestion
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