The peso ‘stumbles’ in the first week of August

He weight ended the first week of August under pressure against the dollar, after two weeks of consecutive advances, in a scenario where the Mexican currency showed resilience despite the tensions that are increasing between the United States and China.

According to data from the Bank of Mexico (Banxico), the Mexican currency depreciated this week 0.84 percent, or 18.7 cents, bringing the exchange rate to 22.39 units per dollar, this in the interbank environment.

The Mexican currency and the Malaysian Ringgit ranked first among the best performing currencies among a basket of emerging market and more expanded currencies.

During the day of this friday, the Mexican currency scored an epic session, with marginal movements of 0.0045 percent, and returned from 22.60 units to settle at 22.39 pesos per dollar.

In bank window, the dollar is sold at 22.76 pesos, according to Citibanamex data.

The national currency touched a minimum of 22.3524 units per dollar at 1:00 p.m., while the maximum for the day was located at 22,6001 units, registered at 9:25 a.m.

He índice Bloomberg, which measures the strength of the greenback against a basket of ten currencies, rose 0.57 percent to 1,179.65 points.

The official data of american employment They allowed the currency to have some ‘cushion’ as the dollar found a ‘safety valve’. However, later attention turned to the talks in Washington.

The White House and Democrats still cannot agree on the new stimulus package and the tensions between China and the United States they continue, just as the US president, Donald Trump, signed an executive order against the TikTok and WeChat application that will take effect in 45 days.

Progress towards the approval of the new stimulus plan for the economy remains without progress, but now at the limit of the date to carry it out, since the Senate goes to recess on August 8. Treasury Secretary Steven Mnuchin stated that the White House and Democratic leaders are far apart on important issues, leaving it unclear whether they will meet today to finalize the deal.

The non-farm payroll in the United States showed that during June the economy recovered jobs for 1,763 million, above market expectations, which estimated 1.4 million.

The unemployment rate in the US it decreased from 11.1 percent to 10.2 percent, while the underemployment rate, of those people who would be willing to work longer hours, decreased from 18 percent to 16.5 percent.

The number of people registered for temporary unemployment decreased by 1.3 million, while the permanent unemployed remained at 2.9 million.

In Mexico, in economic data, the inflation July was at an annual rate of 3.62 percent, showing a moderate upward momentum for the third consecutive month. Monthly inflation stood at 0.66 percent, the highest for the same month since 1999.

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