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Peso Falls at Opening on Caution Ahead of Key Economic Indicators

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Peso Falls at Opening on Caution Ahead of Key Economic Indicators

The peso fell at the opening on Monday as caution prevails ahead of the release of key economic indicators this week, which could impact expectations for the Federal Reserve’s monetary policy. Trading at 17.1690 units per dollar, the peso depreciated by half a percentage point.

Banco Base noted in an analysis that the depreciation is linked to the forthcoming economic data releases that could sway expectations regarding the Federal Reserve’s policy. Additionally, inflation data for the first half of April is set to be unveiled, providing insights into the future actions of the Bank of Mexico (Banxico).

Last week, the peso saw a 2.78% decline, its steepest drop since October 2023, influenced by heightened tensions in the Middle East. Analysts are closely monitoring the conflict between Israel and Iran, which could impact the currency’s performance in the coming days.

Meanwhile, the Mexican Stock Exchange (BMV) opened with a 0.07% gain, with the S&P/BMV IPC index reaching 55,899.33 points. This marks the beginning of the last week of corporate earnings reports for the first quarter at the local level.

For more business and current affairs updates, stay tuned to Forbes Mexico. Stay informed with Google News by following our Showcase for the latest stories.

See also  Peso Falls Ahead of US Federal Reserve Meeting, BMV Advances

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