The peso began the session with an appreciation of 0.26%, or 4.7 centavos, trading around 17.99 pesos per dollar, with the exchange rate reaching a high of 18.0337 and a low of 17.9838 pesos per dollar.
The release of economic indicators, primarily from the United States, will be important this week.
The peso’s appreciation coincided with a 0.23% weakening of the US dollar, according to the weighted index, resuming losses after gains during the last three sessions of the previous week.
Among the major currency pairs, the best performers today were: the Russian ruble (up 2.01%), the New Zealand dollar (up 0.56%), the Australian dollar (up 0.51%), the South African rand (up 0.47%), the British pound (up 0.41%), and the Danish krone (up 0.30%). The only currencies that depreciated today were the South Korean won (down 0.20%), the Indonesian rupiah (down 0.18%), the Turkish lira (down 0.10%), and the Malaysian ringgit (down 0.05%).
No comments are expected from Federal Reserve officials during the session and for the rest of the week, so currency market movements will depend primarily on the release of economic indicators. The last relevant comment came from Cleveland Federal Reserve President Beth Hammack, who indicated over the weekend that it is a good time to pause interest rate cuts and assess the effect of the latest reductions during the first quarter of 2026. Hammack did not vote on monetary policy decisions this year, but she will be eligible to vote in 2026.
Regarding monetary policy, reports indicate that the Federal Reserve will inject $6.8 billion into the financial market today through repo operations, with the aim of mitigating the liquidity shortage as the year draws to a close.
This week will be marked by the release of economic indicators, primarily from the United States. This coincides with lower liquidity due to the Christmas holiday, as trading is typically slow on December 24th and markets are closed on December 25th, with the exception of some in Asia. Key releases on Tuesday, December 23rd, include: the ADP employment report for last week, third-quarter GDP, October durable goods orders, October and November industrial production figures, and the Conference Board’s consumer confidence index for December. Finally, on Wednesday, December 24th, last week’s mortgage applications and initial jobless claims data will be released.
In Mexico, Tuesday the 23rd will see the release of the November trade balance, third-quarter exports by state, October statistics from the Manufacturing, Maquiladora, and Export Services Industry Program (IMMEX), and consumer inflation for the first half of December. Finally, on December 24th, the National Survey of Occupation and Employment for November will be published.
In the commodities market, precious metals and oil stand out for their gains, amid escalating tensions between the United States and Venezuela. Furthermore, expectations that the Fed will continue cutting interest rates next year are strengthening, contributing to gains in some commodities, notably:
Gold opened trading at $4,411 per ounce, up 1.68% and reaching a new all-time high of $4,420 per ounce.
Silver opened trading at $69 per ounce, up 2.76% and reaching a new all-time high of $69.45 per ounce. Palladium opened trading at $1,772 per ounce, up 3.43% and reaching a high of $1,800 per ounce, a level not seen since January 18, 2023. Similarly, oil opened trading at $57.74 per barrel, up 1.91%, marking its fourth consecutive session of gains.
Meanwhile, copper is trading at $11,940 per metric ton, up 0.45% and reaching a new all-time high. Copper continues to be driven by low inventory levels on the London Metal Exchange and strong demand for this industrial metal, which is key to the development of electric vehicles and artificial intelligence centers.
In Mexico, the Global Indicator of Economic Activity (IGAE) was published, registering a monthly rebound of 0.98%, after falling 0.44% in September, marking its largest monthly increase since July 2014. The IGAE’s growth surpasses the monthly growth estimated by the Timely Indicator of Economic Activity (IOAE) of 0.53% for October. It’s worth noting that the IOAE for November showed a monthly contraction of 0.16%.
Source: realstatemarket
