The price of dollar in Mexico trades higher in the early hours of Monday, after an inflation reading of USA raised expectations that the Federal Reserve might have room to reduce the size of its expected interest rate hikes.
The exchange rate is listed at 18,418 pesos per dollar, according to data from the Bloomberg agency.
The outlook for the Mexican economy in 2023 looks better than many had predicted, while the presidential elections in the country and in the United States are clouding the outlook for the following year, the head of the Economic Planning Unit told Reuters. of the Ministry of Finance and Public Credit (SHCP), Rodrigo Mariscal.
However, the growth of the Gross Domestic Product (GDP) slowed down in the fourth quarter of 2022, according to seasonally adjusted figures released on Friday by the Institute of Statistics and Geography (INEGI).
dollar at the regional level
Most of Latin America’s currencies closed last Friday in the red, dragged down by economic data from USA They raised the stakes for further monetary policy tightening, boosting appetite for the dollar.
According to Reuters Agency, US consumer spending, which accounts for more than two-thirds of the country’s economic activity, rebounded strongly in January amid strong income growth while inflation accelerated.
Given this, futures operators linked to the official interest rates of the Federal Reserve bets have risen that the central bank will raise rates at least three more times.
Source: Gestion
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