The Mexican peso is trying to recover on the Day of the Dead and return to quote at 19 units against the dollar, on a day marked by the employment report in the United States. According to information from Bloomberg, the depreciation of the Mexican currency is only 0.04%, reaching an exchange rate of 20.02 units, one cent more than at the close of October 31. During the day, the peso momentarily reached 19.99 units.
Janneth Quiroz, director of economic and exchange analysis at Monex, pointed out: “The Mexican currency was favored by the U.S. labor market report, which showed that job growth substantially slowed in October, bringing back the possibility that the Federal Reserve rapidly cuts the reference interest rate.”
In October, job creation in the United States decreased to only 12,000 jobs, 211,000 fewer than the previous month, due to hurricanes Helen and Milton, which caused severe damage in the south of the country. Despite this, the unemployment rate remained at 4.1%, a figure considered low by economists.
At bank windows on November 1, the dollar is sold at 20.59 pesos, with a purchase price of 19.49 units per greenback, according to information from Citibanamex. Regarding other indicators, the dollar index (dxy) rises by 0.17% to 104.15 points, while the Bloomberg dollar index (bbdxy) increases by 0.20% to 1,261.28 units. In the stock market, the yield on the 10-year bond in the United States is 4.29%, while in Mexico it remains at 10.42%.
The Russian ruble, Turkish lira, Indonesian rupiah, and Singapore dollar are experiencing losses during this session on November 1.
