Again tension and nervousness caused by the Federal Reserve. Nothing really new or something we were not anticipating in the short term, but the simple fact that committee members express their opinion regarding the rate hike in December turned upside down markets, but especially strengthen the US currency, and it is why we have seen a strong dollar against other world currencies. Again, everyone brings and adds that in December will act; today we have confirmation.
In the case of Mexico, strange see weaken the weight in an environment where oil prices have shown stability and average $ 47 per barrel. There have been times when that price the exchange rate has traded below 18 pesos, in short the 89 cents difference against yesterday’s brings the unusual and ultrarrecalentada idea that rates will rise in December; if it seems incredible, me too! On the other hand, was unveiled this week that the Ministry of Finance closed hedges for net oil exports, reaching $ 42 per barrel mexicana- -Strawberry, of which $ 38 come from a contract that gives us the option of they sell and the other four, to reach 42, they are the Oil Stabilization Fund. On the other hand, it comes the important US jobs data on Friday, which will help to see more clearly the picture of the normalization of interest rates; if the data comes out very strong-more than 200,000 jobs- not only be certain that the Fed will raise rates, but can do before December.
Finally, I would tell the subject -very relevant – of the world’s most valuable company, Apple; because the European Commission imposed a fine of more than 14 billion dollars, product money from your treasury he is in Ireland, which does not pay taxes; this penalty will appeal surely the mark of the manzanita, but must also come to his defense Ireland, which legally has offered the benefit of exemption to the company, and many more. Apple is not acting outside the law.
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@juansmusi or cism.mx
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