The retail dollar began the day this Wednesday by offering in 18.97 pesos, nine cents less than the close of the previous day, a level similar to that reported at the beginning of the week and the lowest since August 2018.
In the international markets, the peso starts the session with an appreciation of 0.44% or 8.25 cents, quoting around 18.68 pesos per dollar, correcting part of the observed losses during the session on Tuesday, along with other currencies in the basket of major crosses.
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The appreciation of weight, and calm in others financial markets globally, it is because the Chinese government announced that monitoring efforts are being made to prevent the spread of coronavirus which today has infected about 500 people in that country. Yesterday, the markets reacted negatively to the news that reported a case in the United States, raising the risk of it becoming an epidemic, said Gabriela Siller, director of economic and financial analysis at Banco Base.
Also, he added, yesterday afternoon the preliminary estimate of the South Korea’s economic growth in the fourth quarter, at 1.2% quarterly, significantly above market expectations, which contributes to the correction in financial markets.
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Although the markets remain calm, the news related to the new virus will be in the attention of the investors, because an epidemic could have negative implications for the economy, mainly in China. It should be noted that this Friday the festivities of the lunar new year in China begin, where it does not work until next Thursday, January 30. Also, during the entire lunar period of 40 days, about 3 billion trips are recorded.
For the markets, the virus represents a threat to tourism and consumption in the short term, as well as to industrial activity and demand for raw materials in the medium term.
During the session of this day, the markets will also be attentive in the process of political trial of Donald Trump which began yesterday in the Senate, where everything seems to indicate that Republicans (who have a majority in the Senate) are focused on the conclusion of the trial quickly.
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