- Mexican peso with a negative bias in the short term against the dollar.
- Fall in stock markets and commodities, puts pressure on emerging market currencies.
USD / MXN climbed to 20.15 during the European session, reaching the highest level in two weeks. From this level, it then started to retreat and operates at 20.07, rising for the third day of the last four days.
The dollar It continues to show strong against emerging market currencies in a context of decline in equity markets and in the price of commodities. The sharp decline in Treasury yields has not limited the advance of the greenback. The 10-year rate is below 1.30%, the lowest since mid-February.
On Thursday it became known that initial claims for unemployment benefits in the US rose slightly last week. The data did not have a significant impact on the market. The next major report appears on Friday with China’s inflation report.
On Mexico Minutes from the last Banxico meeting will be released later on Thursday. The inflation data for June showed a rise in the consumer price index of 0.53%, and the annual rate went from 5.89% to 5.88%. In this way, it remains well above the central bank’s target and could continue to fuel expectations of a new rise in the interest rate by the Mexican central bank.
Technical levels
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