This is the price of the dollar today in Mexico By Investing.com

This is the price of the dollar today in Mexico By Investing.com
This is the price of the dollar today in Mexico By Investing.com

Investing.com – The stock market began trading on Tuesday, July 9, with slight losses and with its eyes set on local data and the Federal Reserve president’s address to the United States Congress.

At 4:45 a.m. EST, the exchange rate was trading at 18.02 pesos per dollar, down 0.18% from the previous close, according to real-time data available on investing.com.

The peso closed the session with an appreciation of 0.62% or 11.1 cents, trading at around 17.99 pesos per dollar, with the exchange rate touching a maximum of 18.1131 and a minimum of 17.9634 pesos per dollar.

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The attention of financial market operators will focus today on the United States Capitol, where the president of the Federal Reserve will begin two days of semi-annual appearances to explain to legislators the state of the economy.

“Waiting for new economic information, traders have prolonged the optimism triggered by the latest figures from the US labor market. However, attention on the Fed will increase with the start of President Powell’s appearance before the US Congress. On the other hand, markets continue to pay attention to the political front in France, the United States and Mexico,” explained Jorge Gordillo Arias, director of Economic, Financial and Stock Market Analysis at CiBanco, in a market closing report.

Markets continue to speculate on the Fed’s next steps and the right time to cut interest rates, while the labor market and inflation have shown signs of moderation, in line with expectations. That is why the US inflation data to be released this week will be key for financial markets.

Local inflation

The June inflation data in Mexico will also be key for Banxico’s next steps in terms of monetary policy.

It is expected to have advanced by 0.24%, which is an increase compared to the 4.69% recorded last May.

In an uncertain environment, investors can take advantage of opportunities in the stock markets before interest rate cuts begin.

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