The price of dollar in Mexico operates downwards in the early hours of Thursday, after mixed inflation data was released in USA that played in favor of future pauses in the rate increases of the Federal Reserve.
The exchange rate is quoted at 17,149 pesos per dollar, according to data from the Bloomberg agency.
According to the ECLAC (Economic Commission for Latin America and the Caribbean), the Mexican economy would be one of those that will close 2023 with greater growth than GDP.
Mexico would register an expansion of 2.9%, while the region will grow on average 1.7%.
The projection has been revised upwards because the economy has shown positive numbers, above expectations.
dollar globally
Most of Latin America’s currency and stock markets rose the day before, after mixed inflation data came out in USA that played in favor of future pauses in the rate increases of the Federal Reserve.
Although the Consumer Price Index (CPI) rose 3.7% in August, more than the market expected and 3.2% in July, underlying inflation – which worries the Fed more because it excludes food prices and energy-, fell to 4.3% year-on-year, compared to 4.7% the previous month.
“The outlook for the future of US interest rates remains unclear as inflation data did not provide the clues investors expected,” said a foreign currency trader.
“Therefore, we are going to continue to see high volatility, with markets swinging according to the numbers that come out, at least until the next Fed policy meeting.” he added.
Source: Gestion
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