EconomyThe Mexican peso opens with gains pending US employment...

The Mexican peso opens with gains pending US employment data

At the open this Thursday, most currencies are showing a mixed performance, which is a sign of caution ahead of the release of US employment figures. The Mexican peso, however, opened with a gain of around 0.38% against the dollar.

The market anticipates that the creation of 250,000 job positions will be published in July, but a lower than expected job creation could cause greater risk aversion, since it would imply a deterioration of the labor market after two quarterly contractions of the GDP.

dollar to peso exchange rate

On the morning of this Thursday, according to the Bloomberg reference, each dollar was sold at 20.3897 pesos per unit. According to Banco BASE, the exchange rate is expected to trade between 20.32 and 20.50 pesos per dollar.

The exchange rate on Wednesday closed at a level of 20.4621 pesos per dollar, with a gain of about 1.5%.

With information from Reuters.

Exchange rate: The peso gains strength at the opening this Wednesday

The correction of the markets, after the volatility caused by the tensions between China and the United States, caused the Mexican currency to appreciate up to 0.71% against the dollar.

The peso is going for its biggest weekly advance since June

In the weekly balance, the peso strengthens 1.29% compared to the previous Friday, which represents its greatest appreciation in five weeks.

The super dollar is unstoppable: it touches a maximum of 20 years

Given the strength of the dollar, the yen fell to a 24-year low and the euro is worth less than the US currency.

The Mexican super peso has beaten the euro against the dollar in 2022

The peso is one of the best currencies in emerging markets, while the euro has already lost almost 12% of its value so far this year. And, for the first time, it fell below the price of the dollar.

The weight appreciates 4% in the week, its best performance in 13 months

The increase in Banxico's benchmark rate, on Thursday, and the weakness suffered by the dollar led the peso to have its best weekly performance since May 2020 and to trade at 19.9 per dollar.