The peso is falling after five days of gains


The weak performance of the Chinese economy has intensified fears of a global recession, resulting in Strengthening the dollar against most currencies Like weight.

The Mexican currency in international markets is 19.88 pesos per dollar wholesalewhich means a decrease of 0.24%, or 5 cents, from the previous close, and its first decline since August 5, 2022, according to information from Bloomberg.

for this part, Retail dollars are sold for 20.39 pesos in bank windows0.30%, or 6 cents, above last Friday’s close, according to data published by CitiBanamex.

China’s retail sales for the month of July were disappointing with 2.7% yoy rising vs. 5.0% estimated, and the same happened with industrial production, which came in at 3.8% versus expectations of 4.6% y/y.

This may indicate that the slowdown in Europe and the United States reached the main engine of growth in the global economy in the third quarter of 2022, which opens a new front of risks.

New York stock markets are trading in positive territoryafter opening lower after some investors took profits after the advance in the previous week and awaited corporate reports for major retailers this week, such as Walmart, Target and Home Depot, which may send new signals that inflation has cut their margins.

for this part, The main index of the Mexican Stock Exchange recorded a slight decrease of 0.08%After three days of big gains.

OA

Threads

Read also

Get the latest news in your email

Everything you need to know to start your day

Registration means acceptance of the terms and conditions

Leave a Reply

Your email address will not be published.