2024-01-11 11:58:48
The exchange rate opened this Thursday showing declines, while the market waits for the latest inflation data from the United States to be released.
Yesterday, Wednesday, the dollar averaged $919, that is, $5 more than the few movements it has shown at the opening of the current day ($914).
The history of consumer prices in the US will be key to determining the Federal Reserve’s next rate decisions. An increase in the 3.1% to 3.2%, driven by the strong spending that consumers usually have in the month of December.
Juan Pablo Ponce, XTB Latam market strategist, commented that if we see an increase above what was expected, “we might see a strengthening in the dollar, given the need to continue with a restrictive interest rate for longer.”
For everything, he maintained that today we might see corrections in the American bill following the rise of more than 30 pesos during the last few days.
“This is if the CPI data in the US continue to confirm a first rate cut in March and we see recovery in Chinese domestic demand. In that case, the exchange rate might return to the $910 area. On the other hand, if the data is not positive, a bullish price would take it to $918 once more,” the expert pointed out.
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