The Mexican peso and the nation's stocks had healthy performances on Thursday amid a brighter outlook for shipping exports to its northerly neighbor, according to published reports.
The peso, Latin America's most traded currency, notched a fourth-straight trading session of gains on Thursday against the greenback, Bloomberg reports. The monetary unit gained after the release of uplifting economic data from the U.S., the recipient of about 80 percent of Mexico's exports. The monetary unit was down 5 percent thus far this year to the greenback before Thursday's trading session.
The nation's stocks began Thursday on the rise as the governments of Spain and France prepared to sell bonds, Dow Jones Newswires reports. Despite both nations' credit ratings being cut last week by Standard & Poor's, an air of optimism followed the sales of debt.
Unemployment benefit applications in the U.S. plunged to their lowest level in almost three years while manufacturing in metropolitan New York is developing at a healthy pace, according to Bloomberg.
Head trader Omar Martin del Campo with Banco Ve Por Mas in Mexico City told Bloomberg that uplifting U.S. economic data provides more relaxation to markets.
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