Tuesday , December 1 2020

Weight under pressure with inflation data



Pezo, after the release of inflation data, showed a better than expected performance in the market and recorded a value loss of around 0.5%, causing the central bank not to raise the interest rate. December meeting.

The Bank of Mexico (Banxico) issued the consumer price figure corresponding to the first half of November. This figure was 0.61% and the annual figure was 4.56%. The majority of the analysts were 0.66%. and at an annual rate of 4.87 percent.

The peso dollar rate, which was close to trading on Thursday, resulted in 20.3185 pesos in interbank transactions compared to the previous day's transactions (20.2320 pesos) and resulted in a depreciation of 0.43%. which meant a depreciation of 8.65 cents.

In the electronic market, at 7 o'clock, the peso-dollar parity reported a slight recovery of 0.04 percent, traded at a price of 20.3095 pesos per dollar, compared to the latest transactions of 20.3185 pesos a previous session.

In the foreign exchange market, it was learned that the depreciation of the Mexican market was also explained by low liquidity because the financial markets would be closed for Thanksgiving in the US.

The weakness of the Mexican money, as in Western Texas Intermediate, the US coastal crude oil, was also affected by the fall in oil prices. This was the Brent crude of the North Sea, down 1.43 percent to $ 53.85. It fell by 1.39 percent to $ 62.60 a barrel.

The manager of the currency market analysis of Armando Rodríguez from Signum Research estimates that in the coming days, the peso-dollar rate will not change in the coming days, with estimates predicting above 20.20 pesos per dollar.

The analyst at the agency said the factors such as the construction of the Mayan Train, the social spending program and the consultations on the weekends to decide the construction of the refinery in Tabasco will exert pressure on the pesos.

Experts predicted that the parity could rise to 19.80 pesos per dollar if there were positive events such as the expectation that there would be no increase in the government deficit in the next government's budget.

Intercam Casa de Bolsa 's foreign exchange analysis area, from a technical point of view, retained a support level of $ 20, while the resistance price is 20.32 pesos per dollar, he said. .


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