The song surpassed the week's winnings, after closing on Friday with a 19.5890 pesos, data from Bank of Mexico (Banxico). With the current level, following an agreement that prevented the entry of US tariffs for all Mexican products, the progress is 44.10 cents, which means a recovery of 2.25 percent.
Early retail data presented United States of America. The May record, higher than the previous month, but lower than expected in the market, shows signs of slowing down the economic activity of the country. This speeds up the theory Federal Reserve (Fed) he will reduce his rates, which would benefit the pesos from the difference with respect to Mexico. The announcement of the Fed's monetary policy will be announced next week.
Another factor that maintains the stability of the pesos is the lack of information about a commercial war between them China and the United States. On October 28 and 29, a meeting will be held in Osaka, Japan G20, in which the presidents of both nations could meet, Xi Jinping and Donald Trump, respectively, but there is little expectation of an agreement, as neither of the two leaders has talked about it.
Loss of leadership
The President of Mexico, Andrés Manuel López Obrador, will not attend the G20 Summit. According to Jorge S. Soto, professor of finance at Universidad del Valle de México, this decision could have an impact on the course: "At these meetings we are talking about important issues for markets, violence, economy, migration." in which Mexico is not in the best conditions and its attitude, Lopez Obrador tells the world that he does not care, "he said.
On the other side, Elena PompaThe head of the international career at La Salle University said that President López Obrador's decision "does not agree with what Mexico is and that it could influence the leadership it cost so much to reach in Latin America."