Background on the Mexican Peso and its Recent Performance
The Mexican peso has experienced a slight decrease against the US dollar on this Friday, after reaching its best level since mid-September. This movement comes as the market absorbs a better-than-expected US labor market report.
Current Exchange Rate and Trends
The spot exchange rate currently stands at 19.1786 pesos per dollar, representing a decrease of 2.93 centavos or 0.15% compared to the previous closing rate of 19.1493 pesos reported by Mexico’s central bank, Banxico.
The dollar’s price is fluctuating within a range, with a high of 19.2051 pesos and a low of 19.0962 pesos. Meanwhile, the Intercontinental Exchange’s Dollar Index (DXY), which compares the US dollar to a basket of six currencies, has increased by 0.52% to 99.25 points.
US Job Report and its Impact on the Mexican Peso
The non-agricultural jobs report from the United States showed an increase of 139,000 jobs in May, surpassing analysts’ expectations. Although this figure is lower than the 147,000 jobs added in April, the unemployment rate remains unchanged at 4.2%.
Expert Analysis and Future Outlook
According to Análisis Banorte, “We consider that the recovery trend will continue. The breakthrough of 19.18 has established a favorable signal. The support it will face is the psychological level of 19 pesos, while resistance is located at 19.25 units.”
Key Questions and Answers
- What is the current status of the Mexican peso against the US dollar? The Mexican peso has slightly decreased against the US dollar, currently trading at 19.1786 pesos per dollar.
- Why is the Mexican peso moving today? The movement is due to a better-than-expected US labor market report, which has impacted the Mexican peso’s performance.
- What was the US job report outcome? The US added 139,000 jobs in May, surpassing analysts’ expectations of 147,000 jobs in April. The unemployment rate remained at 4.2%.
- What are the short-term outlook and key levels for the Mexican peso? Análisis Banorte expects the recovery trend to continue, with key support at 19 pesos and resistance at 19.25 pesos.
