The dollar in Peru started the day down at S/3.355, compared to the previous close of S/3.363, in line with the 0.14% decline of the global dollar index (DXY), which is around 99.23 points. The movement comes after the release of new economic data in the United States, showing signs of a slowdown in the labor market.
“Recent private employment data in the United States shows a creation of 38 thousand jobs, below the 47 thousand expected and the 46 thousand previously recorded, which exerts moderately bearish pressure on the dollar. However, the Fed’s priority remains price stability and the evolution of energy markets limits the movement,” explained Jorge Luis Huayta, FX trader at Kambista.
Huayta also stated that, internationally, the market will remain attentive to the stance of the Federal Reserve, after John C. Williams, president of the New York Fed, indicated that a rate hike this month is not yet defined, although price stability continues to be a priority.
Added to this is the evolution of oil, with Brent hovering around US$ 97 and WTI at US$ 91, amid naval incidents in the Strait of Hormuz that threaten the transit of 20% of the world’s crude. The next reference will be the U.S. ISM Services PMI for August, to be published tomorrow.
“In the local market, the advance of commodities also supports dollar supply, with silver rising 1.91%, copper 1.47%, and gold 1.02%. Additionally, it will be important to observe the liquidity dynamics associated with the maturities of BCRP for S/600 million in Securities Repo and S/2,554.7 million in BCRP Deposits, whose renewal in the interbank market will be relevant to avoid pressures on the exchange rate,” added Huayta.
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