The weight remained under pressure this Thursday against the dollar, in a day of Monetary Policy decision which “passed by” before a return of risk aversion caused by the increase in cases of COVID-19 in the United States and mixed economic forecasts .
According to data from Banco de México, the Mexican currency depreciated 0.13 percent, bringing it to 22.76 units, this in the interbank sphere.
At the bank teller, the dollar is sold at 23.14 pesos per dollar, a figure higher than that reported as of closing on Wednesday by Citibanamex, which was 23.08 units.
The Bloomberg Index, which measures the strength of the dollar against a basket of ten currencies, rises 0.22 percent to 1,220 points.
After noon, the Banco de México’s Monetary Policy decision was reported, which did not cause many shocks for the exchange rate, which is currently following the cautious environment from abroad, and after that, in the week has depreciated just over 2 percent.
Without major surprises, the Central Bank cut its benchmark rate by 50 basis points, unanimously, to place it at 5 percent, thus completing an adjustment of 225 basis points so far this year.
According to analyst forecasts, they still see one more movement in the year. However, this will have to be evaluated, derived from the latest inflation readings.
During the week, the exchange rate has quoted in a relatively narrow range of 22.9884 pesos as a maximum level, observed this Thursday morning, and 22.27 pesos as a minimum, seen the previous three days.
This has been accompanied by an increase in volatility in the last week, a situation that has not been alien to the Mexican currency in the one and three month registers, respectively.
In the US, Texas is experiencing a “massive outbreak” of COVID-19 with an increase in hospitalizations, said Governor Greg Abbott. In California, Disney indefinitely delayed the reopening of its theme parks.
The model from the University of Washington Institute for Health Measurement and Assessment now predicts that 180,000 Americans will have died from the SARS-CoV-2 virus in October, a 10 percent decrease from your previous forecast.
Trade balance figures showed that the deficit in the United States rose to $ 74.4 billion. Unemployment subsidy applications were also published, a figure that was higher than expected for the second consecutive week, adding to signs that the recovery is slowing down.
Initial jobless claims in regular state programs fell to 1.48 million last week, from 1.54 million revised upward the previous week, Labor Department data showed.
In this context, the capital markets on Wall Street point to a shaky opening followed by a mixed session from Europe and Asia.
Emerging market currencies They resent the strength of the dollar this week, when global markets adjusted negatively just over 2 percent on Wednesday.
In the local market, the National Institute of Statistics and Geography (Inegi) also published retail sales figures for April earlier, which showed falls of 23.8 percent in its annual comparison and 22.4 percent in the month.
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