President Donald Trump praised the negotiations with Mexico at the World Economic Forum in Davos, stating that they are on the right track. Although he had previously threatened to impose a 25 percent tariff on Mexico if efforts to combat fentanyl trafficking to the U.S. were not intensified and if the influx of migrants at the border was not reduced, he now seems to have softened his stance.
Regarding the price of the dollar, it is quoted at 20.70 Mexican pesos for sale and 19.57 for purchase at bank windows, according to Citibanamex. The dollar index (DXY) shows a decrease of 0.40 percent, and the Bloomberg dollar index (BBDXY) falls by 0.50 percent.
The Mexican peso is benefiting against the dollar, with an appreciation of 0.67 percent, placing the exchange rate at 20.24 units. President Trump mentioned that, for now, he will not impose tariffs on China, which has contributed to the stability of financial markets.
Mexican President Claudia Sheinbaum reiterated the collaboration and cooperation between Mexico and the U.S. after Trump's statements in Davos, where he highlighted that relations are on a good path. Sheinbaum also emphasized the importance of the Treaty between Mexico, the U.S., and Canada and maintaining an established institutional communication with the new U.S. Administration.
In summary, Donald Trump's statements in Davos have created a positive atmosphere concerning trade relations between Mexico and the United States, contributing to a strengthening of the Mexican peso against the dollar in the financial markets.
