The price of dollar in Mexico is trading higher in the early hours of Monday, buoyed by hopes that central banks will end their aggressive interest rate hikes.
The exchange rate is listed at 19,000 pesos per dollar, according to data from the Bloomberg agency.
The European Central Bank and the Bank of England raised their interest rates again, as expected by the market, but they still seem poised to continue with the restrictive monetary policy, at least in the short term, since they have not finished the fight to curb inflation.
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Along these lines, the monetary policy events of the past week have supported the Mexican markets due to expectations of an end to the rate hike. However, this week it will be the turn of the Bank of Mexico (Banxico), which is expected to adopt a similar stance.
dollar globally
The rise in global stocks, fueled by hopes that central banks would end their aggressive interest rate hikes, hit a headwind last Friday after weak profits from US tech giants and ahead of key jobs data in USA.
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MSCI’s global stock index was down 0.2% but remained near its highest level since August after a sharp rally in recent weeks on hopes central bank rate hikes are coming, according to Reuters Agency. to its end.
Wall Street stock futures were down sharply, with Nasdaq 100 contracts down 2% on disappointing results from Google, Apple and Amazon. S&P 500 futures were down 0.9%.
Source: Gestion
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