The Mexican peso is depreciating against the dollar this Tuesday morning. The local currency is losing ground, resuming its downward trend as markets await indicators that could signal the future path of the interest rate differential between Mexico and the United States.

Of interest: Santa María submarket has Monterrey's highest office vacancy rate

The spot exchange rate stands at 18.3500 units per dollar. Compared to yesterday's official close of 18.2628 units (as reported by the Bank of Mexico, or Banxico), this represents a loss of 8.72 centavos, or 0.48 percent, for the peso.

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Traders expect tomorrow's US consumer price report and Thursday's producer price data to help clarify the interest rate outlook. A Federal Reserve rate hike this month has been all but ruled out.

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Original Note