Markets advance and crude oil remains close to $100

The highest risk and best return financial assets sought to recover lost ground on Monday, with oil prices parked at almost $100 per barrel.

While markets await the message from the Federal Reserve (Fed) this Wednesday, the dollar weakened and the Mexican peso achieved its biggest gain since April 9 of last year.

The Mexican currency had a daily appreciation of 1.58 percent against the US currency, equivalent to 28.44 cents, compared to closing at 17.6645 pesos per dollar. spot.

According to the Bank of Mexico, the exchange rate operated between a maximum of 17.7410 units and a minimum of 17.6510.

The Fed will issue its monetary policy message today and the European Central Bank (ECB) will do the same tomorrow, which offers a pause in the rise of the dollar, which suffered yesterday to maintain its maximum levels. The DXY index, which measures the behavior of the US currency against six international currencies, fell 0.16 percent, to 99.31 points.

For its part, the Price and Quotation Index (IPC) of the Mexican Stock Exchange, led by Wall Street, advanced 0.83 percent, to close at 66,196.91 points.

After two consecutive falls, the main Mexican stock index benefited from lower risk aversion in the markets.

After Iran resumed attacks against energy facilities of United States allies such as Qatar, Saudi Arabia, Bahrain and Kuwait, and Donald Trump, president of the United States, responded that he did not expect an attack of that magnitude against allies, the barrel of Brent resumed its upward path after Monday’s falls.

Added to the above is the persistent blockage of the Strait of Hormuz, through which a fifth of the world’s crude oil transits.

The barrel of North Sea Brent for delivery in May advanced 3.2 percent, to $103.42, and the barrel of West Texas Intermediate for delivery in April gained 2.9 percent, to $96.21.

The S&P 500 advanced 0.25 percent, to 6,716.19 points, and the Nasdaq gained 0.47 percent, to finish at 22,479.53 points.

Investors assimilated the inflationary pressures derived from the conflict in Iran. Meanwhile, the required yield on the 10-year United States bond moves above 4.204 percent.

Investors assimilated the inflationary pressures derived from the conflict in Iran. Trump claimed to have destroyed Iranian military capabilities and criticized the lack of international support for the blockade of the Strait of Hormuz.

The Fed, the world’s main central bank, will decide today to leave its reference rates (which determine the cost at which companies and people are financed) unchanged in the range of 3.5 and 3.75 percent, according to market consensus.

The most important thing will be the message and what it conveys, as well as its economic perspectives and its dot diagram. It will be the Fed’s second monetary policy meeting this year and the penultimate one chaired by Jerome Powell, whose term ends in May.