The price of dollar in Mexico trades in the early hours of Tuesday to the downside, while the investors eyes are set on monetary policy decisions by the Federal Reserve, the European Central Bank and the Bank of England over the course of the week.
The exchange rate is listed at 18,774 pesos per dollar, according to data from the Bloomberg agency.
The Mexican peso and the stock market retreated yesterday due to the caution of investors who awaited the monetary policy decisions of different central banks this week, including the US Federal Reserve (Fed).
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At the local level, the publication on Tuesday of the Gross Domestic Product figures for 2022 stood out, which will offer clues about the state of health of the second largest economy in Latin America. According to the Ministry of Finance, local economic activity would have expanded between 2.9% and 3% last year.
dollar globally
The currencies and shares of Latin America closed yesterday with falls, due to the caution of investors, who have their eyes on the monetary policy decisions of the Federal Reservethe European Central Bank and the Bank of England over the course of the week.
According to the Reuters Agency, added to this was the fall of just over 1% in the price of oil -an important generator of foreign currency in the region-, due to the imminent increases in interest rates by central banks and signs of strength. of Russian exports.
The week’s focus will be on the Fed’s first interest rate announcement of the year, scheduled for Wednesday, followed by the Bank of England and the European Central Bank on Thursday.
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Investors are discounting an increase of 25 basis points in the US central bank’s interest rate, which would mean a moderation in the aggressive process of monetary normalization started in March of last year to contain inflation.
Source: Gestion
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