The price of dollar in Mexico trades lower in the early hours of Tuesday after a US inflation reading raised expectations that the Federal Reserve it may have room to reduce the size of its expected interest rate hikes.
The exchange rate is listed at 17,465 pesos per dollar, according to data from the Bloomberg agency.
The CEO of BBVA Mexico, Eduardo Osuna, estimated that the mexican economy it could grow at a rate of 2.4% in 2023, driven by the increase in the minimum wage, a strong labor market, dynamism of the industry, reactivation of tourism and strength of exports.
“It must be said that our growth expectation for the year just six months ago was above 1% and today we are changing the growth forecast to 2.4%”, said.
In addition, he pointed out that the new rate of economic growth for 2023 it would be given by the economic evolution of the first quarter, when the gross domestic product advanced 3.6% on an annualized basis.
dollar globally
Most Latin American currencies rose the day before, buoyed by increased investor appetite for risky assets after strong economic data in USA and China last week and in the midst of a slight global reversal of the dollar.
According to the Reuters Agency, the stock markets registered a mixed performance.
The dollar index, which compares the green ticket With a basket of six major currencies, it gave back early gains and was down around 0.15% after weak US service sector data.
The US services sector barely grew in May as new orders slowed, sending a measure of the prices companies pay for inputs to their lowest level in three years, something that could help the economy. Federal Reserve in its fight against inflation.
Source: Gestion
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