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He Mexican peso ended the day this Friday with a loss of 1.59%, thus the interbank dollar stood at 24.73 pesos per unit, according to data from Banco de México (Banxico).
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In its weekly comparison, the Mexican currency recorded a 6.06 percent depreciation. In banks, the US currency was offered in 25.21 units. While the close of the dollar on Thursday was at 24.64 units, according to data from Citibanamex.
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During the five days, the dollar was exposed to marked volatility due to uncertainty about the hydrocarbon war between Russia and Saudi Arabia. In this sense, the weight occupied third position among the worst performing currencies, only behind the South African rand and the Hungarian forint.
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At the local level, the order to extinguish all public trusts without organic structure and mandates, which represent more than 700 billion pesosalthough the president Andrés Manuel López Obrador He assured that the money that would return to the Treasury would be about 250 billion.
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In addition, the Consumer Confidence Indicator prepared by the I was also published.National Institute of Statistics and Geography (Inegi) and Banco de México (Banxico), which showed in March a monthly drop of 1.2 points, to settle at 42.6.
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Regarding the energy market, oil prices recorded a rise, after the Organization of Petroleum Exporting Countries (OPEC) and its allies will announce that they will hold a videoconference meeting next Monday, April 6.
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With this, the price of Texas intermediate oil (WTI) was shot this Friday a 11.69% to sell in the USD 28.28 per barrel. Meanwhile he Brent in London it went up 14.20%, to the USD 34.20.
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In this sense, everything points to an agreement between Russia and Saudi Arabia will allow to put a stop to the oversupply of oil that appears. This is due to the drop in demand that the measures of Social isolation implemented by many of the world’s governments to contain the coronavirus pandemic.
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It should be remembered that the past Thursday, once the news of a possible reduction was known, prices rebounded remarkably and the trend is expected to continue.
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“I just spoke to my friend Prince MBS (Mohamed bin Salman, Prince of Saudi Arabia), who spoke to the President of Russia, and I hope and wish they would cut back about 10 million barrels again,” he posted on his Twitter account. he Donald trump, president of the U.S.
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The impact of the pandemic around the world
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This morning the newspaper The Economist public non-farm payroll data and the unemployment rate in the United States. The figures showed a destruction of 701,000 jobs in March, the worst since March 2009. This brought the unemployment rate to 4.4%, at the highest record since August 2017.
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Evidence of the economic impact of the coronavirus crisis also comes from Europe. The indicators of Purchase Management Index (PMI) for area services fell more than the market expected. The figures for Spain and Italy are especially worrying in view of the increasing numbers of COVID-19.
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The number of infected already exceeds million sick worldwide and more than 50,000 deaths To the date. Despite the isolation measures, there has been no slowdown in the rate of new cases.
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