EconomyMexican peso advances for the third session attentive to...

Mexican peso advances for the third session attentive to Fed officials

The Mexican peso appreciated on Tuesday for the third consecutive day, in a market with an eye on the participation of several officials of the US Federal Reserve (Fed) in different public events, in search of new signs about the course of monetary policy .

Exchange rate from dollar to peso

The exchange rate was trading at 19.9730 pesos per dollar, this Tuesday, October 4, with a gain of 0.31% compared to Monday's closing price of 20.0370, according to the Bank of Mexico.

In the last three sessions, it accumulates a yield of 0.88%, according to Reuters calculations. " The appreciation of the peso is due to a correction in the global financial markets for the second consecutive session , which has allowed the US dollar to show a decline of 0.30% according to the weighted index," Banco Base indicated.

"Today's attention will focus on the statements made by Fed officials," Monex Grupo Financiero said in an analysis note. "19.95, validated yesterday, will trade as support again today, but if the exchange rate breaks below that level, it will quickly look for 19.88."

At the local level, the attention of the participants was focused on the disclosure towards the end of the week of September inflation that, according to specialists, would have reached a new record in more than 20 years.

During the session, the exchange rate is expected to trade between 19.90 and 20.08 pesos per dollar, according to Grupo Financiero Base.

With information from Reuters.

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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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