The price of dollar in Mexico trades in the early hours of Friday on the downside, after an inflation reading of USA 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 16,882 pesos per dollar, according to data from the Bloomberg agency.
At a general level, the expectations for the mexican economy have improved, driven by the first quarter result, which was above expectations. National and international organizations expect growth of between 1.5 and 3% for this year.
Of the international organizations, the Organization for Economic Cooperation and Development (OECD) is the one with the highest projection, at 2.6%.
While of the local institutions, the Ministry of Finance and Public Credit (SHCP) is the most optimistic and expects growth of 3%.
dollar globally
Most of Latin America’s currencies fell the day before, amid a global advance in the dollar after strong employment data in USA, with the markets’ attention focused on the monetary policy meeting of the Federal Reserve of next week.
The number of Americans filing new claims for unemployment benefits unexpectedly dropped last week, pointing to continued strength in the labor market.
The Department of Labor reported that initial applications for state subsidies for unemployment they fell by 9,000, to a seasonally adjusted 228,000, in the week ending July 15. Economists polled by Reuters had expected 242,000 applications for the last week.
The US currency was up about 0.6% against a basket of six major currencies that make up the dollar index.
Source: Gestion
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