The price of the dollar in Mexico operates downward in the early hours of Friday, amid a global decline in the dollar after new data from the US economy that is weaker than expected and reaffirmed expectations that the Federal Reserve could soon finish raising interest rates.
The exchange rate is listed at 18,010 pesos per dollar, according to data from the Bloomberg agency.
The International Monetary Fund (IMF) It slightly adjusted its growth expectation for Mexico’s GDP for this year to 1.8%, from the 1.7% estimated in January.
However, for 2024 it kept its estimate unchanged at 1.6%, according to the World Economic Outlook (WEO) report released last Tuesday.
The direction of expectations about the mexican economy It contrasts with those of the activity worldwide, since the agency cut its estimate to 2.8%, from 2.9% for this 2023; while by 2024 it went to 3% by , from 3.1%.
dollar globally
Most of the Latin American currencies closed higher the day before, amid a global decline in the dollar after new data from the US economy was weaker than expected and reaffirmed expectations that the Federal Reserve could soon finish raising interest rates.
According to Reuters Agency, the number of Americans who submitted new applications for unemployment rose more than expected last week, another sign that labor market conditions are easing as higher borrowing costs dampen demand in the economy.
Meanwhile, the dollar fell to two-month lows against a basket of currencies and a year low against the euro on Thursday, after producer prices in USA they fell unexpectedly in March, raising expectations that the Fed is near the end of the rate hike cycle.
Source: Gestion
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