Peso’s plunge causes worry technical analysis of the futures markets john murphy pdf download


MEXICO CITY — The battered Mexican peso has tumbled to historic lows in recent days, nearing a psychological barrier of 20 pesos to the U.S. Usd to inr conversion dollar and causing anxiety on the streets, at businesses and in the halls of government.

Among other factors, many point to the recent rise in U.S. Free format converter presidential polls of Donald Trump, the Republican nominee who has vowed to build a wall along the U.S.-Mexico border and has been widely accused here of Mexico-bashing.

“There is a very clear relation with the (U.S.) electoral process,” Mexican President Enrique Peña Nieto told Radio Formula last week, linking Trump’s improved standings in the polls to the peso’s doldrums.

The Mexican currency plunged to a record low of about 19.90 to the dollar last week and has hovered near 20 to the dollar for days. Usa today

puzzles Exchange houses are already posting signs offering a 20-peso exchange rate, a jarring sight for many here.

Despite official declarations downplaying the devaluation, some analysts are warning that things could get worse and assailing what they call government inaction.

“It appears that the authorities in charge of the politics, economics and finances of the country are flummoxed, paralyzed by the magnitude of the devaluation,” wrote columnist Enrique Galvan Ochoa in Mexico’s La Jornada newspaper. Used book stores springfield mo “And the effects of the phenomenon could extend to the large companies of the private sector, deeply indebted in dollars.”

He blamed external factors for the current “volatility,” singling out the “enormous uncertainty” of the upcoming U.S. Euro pound exchange rate calculator presidential elections and polls showing Trump gaining ground.

Economists cite a number of other causes, including the drop in oil prices since mid-2014, Mexico’s generally sluggish growth and predictions of a U.S. Oil futures market history interest rate hike.

Whatever the reasons, the plummeting peso has generated considerable concern. Aud usd live As the president noted, many here inevitably link a decline in the currency’s value in relation to the dollar as an indicator of economic distress — even an impending economic meltdown.

“This is worrying because in Mexico, history and experience tell us that very strong economic crises follow when the peso weakens against the dollar,” said Pedro Mendez, 63, a retiree. Dollar exchange rate history “Of course the government says not to be concerned. Stock market cnn futures But they rob with open hands!”

While inflation officially remains low — beneath the central bank’s 3 percent annual target — many here complain of fast-rising prices of food and other basic items, stretching already strained family budgets.

“Prices have been rising for months,” said Rosa Maria Tellez, a nurse and mother of three. Gold background images “Now you go to the supermarket and pay double, or leave with half the products you could have bought a year ago. Commodity futures market definition This business with the dollar will only make it worse. Binary code translater … Everyone raises their prices and says it’s because the dollar increased in value.”

Alberta Torres, 56, who sells food from a street stand, says customers are purchasing less these days, complaining that their salaries are not sufficient.

“The economic situation is worse every day. Chf usd conversion We don’t have enough money in our pockets,” said Torres. Usd rmb exchange rate history “One has to go in debt and borrow to finish off the month.”

For the multitudes of Mexicans who depend on remittances — dollars sent home by expatriate Mexican citizens residing in the United States and elsewhere — the devaluation has represented something of a windfall. Us to rmb exchange rate The stronger dollar means they receive more pesos for every buck sent home.

“In the last few months since the dollar increased in value, we are doing a lot better,” said Maria Rosa Beltran, 45, who spoke in front of a Mexico City Western Union outlet, destination of many who regularly collect money wired from the U.S.