La Jornada: The weight, at its best level in more than two years

The Mexican peso closed this Tuesday at 17.0876 units per spot dollar, which represented its best level since May 2024.

The Mexican currency showed a daily appreciation of 0.31 percent this Tuesday, after Monday’s marginal pause in the winning streak of four consecutive increases.

Despite the moderation in demand for safe haven assets, given greater expectations of diplomatic progress in the Middle East, the Mexican peso reached levels not seen for more than two years, despite the fact that other emerging currencies advanced, as the carry trade continues to favor the currencies of emerging economies.

“The peso was favored by the moderation of nervousness among investors, given the progress of diplomatic negotiations in the Middle East. The exchange market will be waiting to know the consumer inflation report in the United States this Wednesday,” predicts the Monex analysis area.

Meanwhile, the DXY index, which measures the behavior of the dollar against a basket of six international currencies, remained stable, showing no variation.

The Mexican Stock Exchange (BMV), for its part, fell 1.32 percent, up to 65,564.76 points; That is, it lost the level of 66 thousand points, affected by the poor performance of financial stocks: Gentera fell 5.30 percent; Banorte, 2.76; Banco del Bajío fell 1.33, and Inbursa, 1.22 percent; Meanwhile, Peñoles lost 1.24 percent and Grupo México 1.04 percent.

Meanwhile, Wall Street retreated. The Nasdaq fell 0.60 percent, to 26,445.45 points; The S&P 500 lost 0.32 percent, to 7,728.09 points, and the Dow Jones lost 0.34 percent, to 53,791.85 points.

Investors’ caution increased as they waited to know July inflation in the United States.