EconomyExchange rate: The Mexican peso falls at the open...

Exchange rate: The Mexican peso falls at the open due to weak economic data in Asia

The Mexican peso depreciated against the dollar early on Monday, amid the strength of the US currency in a day of risk aversion due to weak economic data in Asia.

The Mexican currency was quoted, on the morning of this August 15, at 19.9589 units per dollar , with a loss of 0.56% compared to the closing price of the Bank of Mexico, on Friday, of 19.8466 pesos per dollar.

"The Mexican peso pauses in its positive rally of recent sessions and is under pressure, in a day where the protagonists are China and the international pause price of oil," Ci Banco said in a note.

The dollar-peso exchange rate could fluctuate during the day in a range between 19,888 and 20.10 pesos per dollar , according to Ci Banco estimates.

China's industrial production, retail sales and fixed asset investment fell short of analyst estimates in data released on Monday, as the nascent recovery from COVID-19 lockdowns faltered.

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Although the Mexican currency suffered a slight depreciation at the opening of this Friday, it continues at levels that could consolidate in a downward trend, but a rebound is not ruled out.

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The exchange rate recorded its fourth day of appreciation and closed at 19.8873 pesos per dollar, its best level since September 12.

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While signs on monetary policy are expected in the United States, Canada, Brazil and Europe, the Mexican peso advances slightly this Tuesday.

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Among the strongest falls in the national currency are those caused by the covid-19 pandemic, in 2020, and the one that triggered the Trump phenomenon during the government of Enrique Peña Nieto.

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Analysts in Mexico estimate that the peso could find a ceiling at levels of 20.30 units, since there are no serious elements that allow a strong depreciation of the local currency to be perceived.