The domestic currency was trading at 17.9980 per dollar, with a gain of 0.67% compared to Banxico’s closing price on Friday. In the last three sessions the peso accumulates an appreciation of 1.8%.
“Today, the support and resistance levels are at 17.90 and 18.30, respectively. The attention of the week will focus on the monetary policy decision in the United States on Wednesday,” said Monex Grupo Financiero, in an analysis note.
On Wednesday, the Federal Reserve will announce its monetary policy decision. According to an analysis by Actinver, the market assigns a 98% probability that the rate will remain unchanged at 5.50%. The probability of an increase in December is close to 30%.
At the local level, on Tuesday the timely estimate of the Gross Domestic Product (GDP) for the third quarter, among other figures, will be released.
The currency is expected to oscillate during the week in a range of 17.85 to 18.40, according to analysts from the firm CIBanco.
With information from Reuters.