The peso gains ground against the dollar

While the dollar reversed its gains, Mexico’s financial markets decoupled from Wall Street and closed with slight gains.

With Wall Street posting mixed results, the Mexican peso reversed course and ended the session stable but with a positive bias: the Mexican currency appreciated against the US dollar by 0.04%, to 17.4399 units per dollar, amid moderate risk appetite.

According to data from the Bank of Mexico, the exchange rate traded between a high of 17.4470 units and a low of 17.4180 units.

The DXY index, which measures the dollar’s performance against a basket of six international currencies, fell 0.11% to 101.28 units. The dollar was affected by US economic data, as well as by reduced geopolitical tensions, which allowed its major counterparts to appreciate.

The Conference Board’s US consumer confidence report showed a reading of 90.8 points in July, down from the previous reading of 92.2 points and below the consensus estimate of 92.4 points.

Meanwhile, the Nasdaq fell 0.22%, while the S&P 500 and the Dow Jones rose 0.22% and 1.03%, respectively.

Oil prices fell again, this time by more than 4%. The price of a barrel of North Sea Brent crude fell 4.83% to US$84.09. Its counterpart, WTI crude, fell 4.06% and dropped back below the US$80 threshold to US$79.26, amid relative calm in the Middle East, while the market remains hopeful for a diplomatic rapprochement between Washington and Tehran.