This Holy Thursday, banks and markets remain closed; however, the Mexican peso continues to expand its gains against the dollar in electronic trading. According to Bloomberg, the Mexican currency appreciated by 1.09 percent, placing the exchange rate at 19.70 units, which represents a decrease of 29 cents compared to the close on Wednesday, April 17.
The news that is moving the markets today includes the drop in unemployment claims in the U.S. to their lowest level in two months, suggesting stability in the labor market. Meanwhile, the Philadelphia Federal Reserve index has experienced a sharp decline, below economists' forecasts, which could be a troubling sign for the manufacturing sector.
In another aspect, President Trump has expressed the urgency to remove Federal Reserve Chairman Jerome Powell, arguing that the central bank should have lowered interest rates this year and, if necessary, should do so immediately. Following the recent turbulence caused by the announcement of reciprocal tariffs in early April, investors are focused on the development of international trade negotiations, such as with Japan.
Regarding the foreign exchange market today, April 17, at Banamex counters, the dollar is quoted at 20.47 units for sale and 19.36 pesos for purchase. The dollar index (DXY), which measures the strength of the U.S. currency against a basket of six currencies from developed countries, has risen by 0.09 percent, reaching 99.38 points, while the Bloomberg dollar index (BBDXY) has increased by 0.02 percent, standing at 1225.90 units.
