The Mexican peso depreciated slightly at the open this Friday, after the unfavorable results in the quarterly reports of technology companies caused greater risk aversion.
The exchange rate continues around 19.80 pesos per dollar, increasing the possibility of a rebound; however, if it reaches 19.70 pesos per dollar, a downward trend would be confirmed.
dollar to peso exchange rate
At the opening of this Friday, the peso depreciated slightly compared to the closing recorded on Thursday by the Bank of Mexico. In the morning, it was trading around 19.86 pesos per dollar, with a minimum of 19.8144 and a maximum of 19.8916 pesos per dollar. That is, a depreciation of just 0.009% compared to the previous session’s close of 19.8581.
During the session, the exchange rate is expected to trade between 19.81 and 19.92 pesos per dollar, the Base Bank estimated.
The depreciation at the open is due to a strengthening of the dollar, in general, in a context of greater risk aversion in the financial market. This after unfavorable quarterly results were reported in previous sessions for companies in the technology sector, mainly Meta (Facebook) and Amazon.
Will the exchange rate reach 19 pesos?
According to Grupo Monex, in recent days, the parity has respected the resistance of 19.80, which was the minimum of June and August, with which the formation of a triple bottom increases the possibility of a rebound from that level. .
But if, on the contrary, the bearish force dominates and the pair manages to break, 19.75 – September’s low – will be the next support to consider before confirming the determination of a downtrend.