The Mexican peso appreciated marginally on Tuesday in an environment of lower global risk aversion as investors awaited the release of new economic information this week for signs on the direction of interest rates in both Mexico and the United States.
The domestic currency MXN= was trading at 19.9916 per dollar, with a slight gain of 0.06% against the Reuters reference price on Monday. However, later, the dollar was traded at 20.0761 pesos per dollar, according to data from Bloomberg, which indicates a depreciation of 0.31% compared to Monday's close recorded by the Bank of Mexico.
"The improvement in the global risk sentiment has allowed this behavior, in addition to the fact that the technical pattern suggests that the appreciation could continue to levels of 19.81," the Monex brokerage said in an analysis note.
The United States is scheduled to release nonfarm payroll figures and the unemployment rate on Friday, while in Mexico the central bank will release its quarterly report on Wednesday with its latest estimates for the local economy and inflation.
For the rest of the session, the currency is expected to oscillate in a range of 19.92 and 20.03 per dollar, according to the firm Banco Base.
With information from Reuters.
