MEXICO CITY (Reuters) – The Mexican peso traded up and down on Monday in a cautious market awaiting domestic inflation data, while figures from the United States could reignite speculation about the country’s monetary policy next steps. .
Meanwhile, the stock market rose, boosted by shares of cement giant Cemex, which jumped from its lowest price in nearly nine months after a $1 trillion infrastructure plan in the United States, one of its key markets.
* The local currency was trading at 20.3375 to the dollar near the end of the session, down 0.05% compared to 20.3170 at the Reuters reference price on Friday. In the session it fell to 20,4230 units.
* US consumer price behavior will be known on Wednesday, and any bullish surprise is likely to reignite rumors of a Fed rate hike.
In the meantime, domestic inflation data will be released on Tuesday. Un sondeo de Reuters mostró que la lectura interanual del indicador se habría acelerado a su mayor nivel en casi cuatro años y la subyacente a su máximo desde 2009, lo que refuerza expectativas de que el banco central subiría porocasi la cuarta interacial refera this week.
* The benchmark Mexican stock index, S&P/BMV IPC, rose 0.53% to 5,2251.49 points, with a trading volume of 201.3 million securities.
Cemex shares rose 10.2% to 14.26 pesos, after falling to their lowest level since February 23 at the end of last week. Its shares were losing after it reported a drop in its third-quarter operating cash flow in late October due to the impact of supply chain disruptions and increases in energy costs.
* In the debt market, the 10-year bond yield was trading at 7.29%, while the 20-year rate was 7.66%. (Miguel Angel Gutierrez reports)
“Beeraholic. Friend of animals everywhere. Evil web scholar. Zombie maven.”