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Mexico City. Today Thursday 5 November 2020 the dollar is listed in $ 20.69 Mexican pesos, according to the platform investing.com. In the hours following the presidential election in the United States, the dollar experienced a global fall, which allowed the currencies of emerging countries in Latin America to advance in the exchange rate, as in the case of the peso, which the Election night was close to 22 units before the strength that charged the dollar and this morning is under 21 units.
The generalized fall of the dollar is linked to the fact that the markets see very close the possibility that the Democratic candidate, Joe Biden, finally add up the number of electoral votes needed to become next president of the United States. The theory of many analysts is that a White House governed by Joe Biden would mean greater trade openness in that country, as well as the government’s use of more fiscal stimulus. A victory of Donald TrumpOn the contrary, it would mean a strengthening of the US currency.
Real-time dollar price:
Globally, the markets are dominated by some uncertainty as the final vote count is expected in the United States. According to analysts, a likely government of Joe Biden should face a divided governmentEven if it would have a slight majority in Congress, the Senate will belong to the Republican party. This is seen as a sign of possible stagnation given the limited scope for major legislative changes.
The dollar’s current decline is the dollar’s worst losing streak in a three-month period, there is even moderation among traders to turn to the dollar as a safe haven currency. For the Mexican peso, this decline in the dollar places it at its best level against the US currency since March.
Analysts pointed out that a victory for Donald Trump – who already controls the Senate – represented a high possibility of no more tax increases, something the markets want. Conversely, a Joe Biden government would imply a setback to support and a limited tax policy.
For what concern EUR, this is priced at $ 24.45 pesos, for $ 27.07 pesos pound sterling overall average.
Oil price in real time:
This morning the price of a barrel of oil West Texas Intermediate It is at $ 39.30 dollars. Reports from specialist energy media indicate that the price of a barrel of oil (Brent) remains in the $ 40 range for the remainder of the year, with the potential to reach $ 50 in 2021.
In case of West Texas, the expectation for 2021 is $ 47. Many of the movements in crude oil prices will be linked to the behavior of the Covid-19 pandemic and the measures taken by OPEC / OPEC + in case of new cancellations of flights and mobility, which impact on request of fuels.
For more information on Dollar, visit the section of news from MiBolsillo.com.
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