Mexican Peso’s Volatile Day: Economic Data, Currency Depreciation, and Market Trends

2024-01-25 18:22:00

The Mexican peso had a volatile day, because although it continued to advance for much of the day once morest the dollar, at the end of the day this Thursday it closed with a marginal decline, due to the fact that the appetite for risk assets moderated within the exchange market. .

This occurred as economic data relevant to the United States was assimilated, as well as monetary policy decisions, such as that of the European Central Bank (ECB).

The Mexican currency slowed its advances once morest the dollar, since the data reported by the Bank of Mexico (Banxico), show a depreciation for the exchange rate of just 0.01 percent or 0.23 cents, following settling at a level of 17.2105 pesos per greenback, compared to its last closing data. However, throughout the day it reached a minimum of 17.1697 and a maximum of 17.2689 units.

The dollar index (dxy), which is responsible for measuring the strength of the US currency once morest a basket made up of six developed countries, registered an increase of 0.32 percent and stood at 103.57 units.

Similarly, the Bloomberg dollar index (bbdxy) increased 0.14 percent, following reaching 1,238.07 integers.

Meanwhile, at bank windows, the price of the greenback is 17.62 pesos each, according to data from Citibanamex.

What currencies depreciated once morest the dollar?

Among the most depreciated currencies of the session is the Indonesian rupiah with 0.73 percent, Colombian peso 0.61 percent, Bulgarian lev 0.46 percent, Romanian lei 0.43 percent, Philippine peso 0.41 percent, Russian ruble 0.38 percent, Polish zloty 0.37 percent, to name a few.

In the money market, the yield on the 10-year bond for the United States is 4.14 percent, while the 10-year bond in Mexico remains at a level of 9.60 percent.

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