The peso starts July under pressure from the dollar

The Mexican peso started July with losses against the dollar. The currency had a daily depreciation of 0.43 percent to close at 18.3640 units per dollar. spotAccording to the Bank of Mexico (BdeM), the exchange rate operated between a maximum of 18.4380 units and a minimum of 18.3450.

U.S. 10-year Treasury bond yields hovered around 4.5 percent, despite weaker-than-expected data from the U.S. ISM manufacturing survey.

Meanwhile, the dollar index fell 0.04 percent to 105.499 points.

The Dow Jones industrial average rose 0.13 percent to 39,169.52 points, while the S&P 500 gained 0.27 percent to close at 5,475.09 points. The technology-heavy Nasdaq Composite added 0.81 percent to 17,876.26 points.

Tesla shares gained 6 percent, a day before it reports its quarterly results. Meanwhile, Nvidia shares erased earlier losses.

US manufacturing data released yesterday showed the purchasing managers’ index contracted further in June to hit its lowest level in four months.

The Mexican Stock Exchange gained 0.85 percent, equivalent to 443.95 points, to close at 52,883.97 points. Supported by gains in Grupo México (2.47 percent), Banorte (2.77), Bimbo (3.42), Carso (4.64) and Vitro (10.56 percent).

Oil prices rose 2 percent to a two-month high, helped by an expected spike in consumption and concerns that the Middle East conflict could spread and reduce global oil supplies.

Brent crude futures rose 1.9 percent to $86.6 a barrel, West Texas Intermediate crude futures gained $1.84 to $83.38 and the Mexican blend closed at $77.72.