Dollar price starts July at 18.37 pesos wholesale

The Mexican currency opened at 18.37 pesos per dollar on international markets, a 0.2% or 4 cents depreciation from the previous day, according to information from Bloomberg.

During the overnight session, the exchange rate showed volatility with an upward bias. Today, the peso maintains this trend considering a practically empty weekly agenda, although quite oriented towards the labor market in the United States, commented Monex specialists.

The dollar index, which compares the performance of the US currency against the other six major currencies in the world, opened with a depreciation of 0.15%. The euro rose 0.37% against the greenback, while the pound gained 0.21%.

Bitcoin, the currency with the most assets in the cryptocurrency market, is up 2.3%, gaining the appetite of investors.

At the start of the second half of the year, global stock markets are showing positive movements, with the attractive progress of the main indices in the United States (historic highs) being particularly noteworthy.

This week’s economic agenda will be modest, so attention will be focused on expectations for the upcoming corporate reporting season for the second quarter of 2024.

Finally, the European Union accused Meta Platforms of violating new rules on digital competition, recalling that investigations into Apple and Microsoft were also recently announced.

On Wall Street, futures for the main stock indicators point to a positive opening, with the Nasdaq gaining 0.27% standing out. In Mexico, after the 5% drop in the BMV Price and Quotation Index in June, Banorte analysts anticipate a weekly trading range between 51,600 and 53,300 points.

In Europe, the stock markets are showing positive movements, with the Euro Stoxx 50 trading up 1.2%, while in Asia the markets closed down, with the Nikkei gaining 0.12% and the Han Seng also gaining 0.12%.

The price of US WTI crude oil, the benchmark for the Mexican blend, rose 0.5% as investors assessed China’s economic outlook along with geopolitical risks in Europe and the Middle East.