Written in ECONOMICS on 10/1/2024 · 3.55 pm
After reaching its best level since August, the Mexican peso depreciated slightly and remained unchanged 16.99 units per dollar, according to data published by the Bank of Mexico (Banxico).
This is the second consecutive day in which the Mexican currency depreciated against the North American one.
And yesterday the national currency closed at 16.95 pesos to the greenback and on January 8 it was at 16.81, figure not seen since August 2023.
Why did the dollar depreciate this Wednesday, January 10?
On Wednesday, January 10, the Mexican peso lost value due to the caution of investors around the worldas US inflation data for December will be released tomorrow, giving clues to an initial interest rate cut by the Federal Reserve, according to analysts consulted by Reuters.
“All attention is on Thursday’s release of US inflation data for December,” CIBanco said in an analysis note.
“The data will add another piece to the puzzle of when the Fed might consider a policy interest rate cut, although it is unlikely to be conclusive. Therefore, today’s session is expected to feature little movement in prices for most financial assets,” he added.
Inflation in Mexico closes 2023 at 4.66%, above what analysts expected
This was announced yesterday by the National Institute of Statistics and Geography (Inegi). Inflation in Mexico rose to 4.66% year-on-year.
“In December 2023, the INPC recorded an increase of 0.71% compared to the previous month. With this result, the annual general inflation stood at 4.66%. In the same month of 2022, the monthly inflation was 0.38% and the annual one was 7.82″. percent”, reported the Inegi.
In the latest Citibanamex Survey, analysts expected inflation of 4.44% annually by the end of 2023; On the other hand, a survey conducted by Reuters He noted that the forecast was 4.55%. _With information from Reuters
2024-01-10 21:55:00
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