The Xpeng P5 sedan offering may fuel competition for sales in the Chinese market between native and American manufacturers.
Xpeng Motors has set the starting price for its P5 electric sedan at $ 24,700 in defiance of US competitor Tesla, which offers its Model 3 to the Chinese market starting at $ 38,700. The technically comparable high-end versions for both models are priced at $ 38,550 and $ 52,400, respectively.
This initial price is intended to attract thousands of local price-sensitive buyers, says the South China Morning Post, whose correspondent learned about the offer first-hand and expects regional competition to be “encouraged” by the new figures.
A Shanghai sales manager pointed out in comments to the outlet that the new presale price could be “attractive to those with middle income looking to have a smart electric vehicle. “In addition, he estimated that the customer base for an electric car priced below $ 30,800” is huge in China. “
Sales of these types of cars last year amounted to 1.2 million units in the Chinese mainland, or 6.3% of all passenger vehicles sold there in 2020, according to Xpeng data. China contributed 45.3% of global electric vehicle sales, or 3.7 times the US market, and still growth of 34% per year is expected, until reaching a target number of 4.2 million units by 2025.
Faced with this commercial potential, “all the main players in the Chinese electric vehicle market seek to increase their participation by offering attractive prices to customers,” added the manager. And the newspaper notes that the announcement by the Chinese manufacturer, based in the city of Guangzhou, has emerged days after Elon Musk’s automotive project offered the standard-range Model Y sports utility vehicle. at a 20% lower price than its previously released long-range version in pre-order.
Xpeng provides its P5 sedan, debuted in April at the Shanghai Auto Show, with lidars, the distance measuring devices that revolutionize autonomous driving and turn this model into a truly intelligent vehicle. The car, only available for the moment in pre-sale, is the third model of this brand to be mass-produced after the G3 sports car and the P7 sedan, also a competitor to the Tesla M3, but significantly more expensive, with a starting price currently around $ 35,500.
The Food and Drug Administration (FDA) has announced the estimated timeframe for approving the COVID-19 vaccine for children under the age of 12, according to a government agency official.
In an exclusive dialogue with NBC News, the FDA official announced last Thursday that the COVID-19 vaccine for children under 12 years of age could be approved in early winter or before the end of the year.
One point by which many families continue to hesitate when it comes to vaccinating minors is the lack of full FDA approval of the vaccines currently in circulation, since all of them have an emergency use authorization.
In a tweet on July 8, Pfizer clarifies that “the Pfizer-BioNTech COVID-19 vaccine has not been approved or authorized by the FDA, but has been authorized for emergency use to prevent COVID-19 from the age of 12 years”.
The Pfizer-BioNTech COVID-19 Vaccine has not been approved or licensed by the FDA but has been authorized for emergency use to prevent COVID-19 in ages 12+. See Fact Sheet: https://t.co/dT0debyEzh
According to FDA official testimony reported by NBC News, the agency requests four to six months of safety monitoring data for children under 12 years of age.
Pfizer and Moderna Conduct Clinical Trials to Request Emergency Approval of COVID-19 Vaccine for Children Under 12 Years of Age
The FDA is expected to decide on full approval of the Pfizer-BioNTech vaccine no sooner than early next year, with a goal set for January https://t.co/ekpGS5c8OR
Faced with this new scenario, Moderna and Pfizer / BioNTech are the only COVID-19 vaccine manufacturers that carry out clinical studies that will determine the efficacy of the vaccine for children under 12 years of age.
According to the official consulted by NBC News, the results of these tests are expected in early fall in the United States.
Likewise, the same medium highlights that the FDA will need a reasonable amount of time to process applications from pharmaceutical companies.
In a statement to NBC News, Pfizer estimated that it will anticipate results of its studies sometime in September. “Data for children ages 2 and under 5 could come in shortly thereafter,” the company told the news site.
However, Pfizer clarified that results for children ages 6 months to 2 years may not be released until October or November.
From Moderna, meanwhile, Dr. Buddy Creech, one of the principal investigators of the Moderna KidCOVE clinical trials, estimated a period similar to that of Pfizer to announce the results of the studies.
“I can’t imagine, except maybe for kids ages 6-11, that we’re going to have too much data before the end of fall,” Creech told NBC News.
Instead, results in children 5 years and younger may take longer, Dr. Creech admitted.
Fear of the advance of the Delta variant
As a consequence of the relentless advancement of the Delta variant of Coronavirus in the United States, and other parts of the world, Dr. Richard Besser, a pediatrician and former acting director of the Centers for Disease Control and Prevention, explained why approval is imperative. a vaccine for children.
“Since children are one of the groups that are not vaccinated, we will see more cases in children,” said Dr. Besser in contact with NBC News.
And about this possible scenario, he warned: “We will see more hospitalizations of children and, unfortunately, we will see more deaths of children.”
READ MORE: Woman takes a COVID-19 test and they find something incredible in her nose: What was she housed in?
Since it was founded 126 years ago, the now divided owner family has determined the fate of the crystal glass producer alone. But now the company’s problems have become so acute that they want to get rid of the family’s own management and seek outside help.
A tiara by the fashion designer Donatella Versace, which is set with 380 Swarovski glass crystals.
Heinz-Peter Bader / Reuters
For a long time, the widespread owner family at Swarovski watched idly as the company’s situation deteriorated. But now members of the clan are evidently forced to pull the rip cord at the Tyrolean manufacturer of crystal glass. The figures in the crystal business are “worrying”, write some shareholders to their co-owners in an email that the NZZ has received.
The entire crypto market showed its bearish side in the past trading week. At the beginning of the week, sales on the overall market increased further. Following the key crypto currency on its way to USD 30,000, almost all of the top 100 Altcoins show double-digit price drops.
The crypto market was again weak in the past trading week. In addition to persistently negative news about the Binance.com crypto exchange, the release of around 40,000 Bitcoin from the Grayscale Fund in the last few days of trading has also contributed to the uncertainty among investors. The non-fungible token (NFT) and decentralized finance (DeFi) sectors are also weak again after two bullish weeks and are giving up a large part of their profits.
Best price development among the top 10 altcoins:
Binance Coin (BNB)
Price analysis based on the value pair BNB / USD on Binance
The Binance Coin BNB is holding up relatively well with a discount of just under 12 percentage points. The “incineration” by means of the token burn of BNBs worth 400 million USD on the part of Binance on yesterday, Sunday, July 18th, is certainly beneficial. However, as long as the BNB exchange rate does not overcome the area around USD 338 at the daily closing rate, there is a risk of a further decline in the exchange rate towards USD 264 and below.
Bullishe Variante (BNB)
At the time of this analysis, the BNB rate is currently trading below its EMA20 (red) at USD 281 and threatens to give up its moving average lines EMA200 (blue) and MA200 (green) if selling pressure continues. Only when the resistance at USD 315 has been regained and the zone between USD 325 and USD 348 is subsequently left on the upside, the first price target at USD 367 comes into focus again. On the way there are strong resistances with the cross resistance from EMA50 (orange) and the upper Bollinger band as well as the supertrend at USD 348. If the BNB can rise to USD 367 and there is no significant rebound to the south, a march through to USD 390 (38 Fibonacci extension) and USD 407 is conceivable.
Should the BNB rate subsequently also overcome these resistance levels, an increase into the red resistance area should be planned. The monthly high from June 2021 and the 50s Fibonacci retracement at USD 451 can be found in the area of USD 432. If the bulls can also outperform the 50s Fibonacci retracement at USD 451 per day’s closing price, the next target area between USD 480 and USD 501 will be activated. This is where the 61 Fibonacci retracement of the overarching trend movement can be found. If there is a subsequent breakout above USD 501, there is room for a subsequent increase up to the next relevant price target at USD 579. This is where the 78 Fibonacci retracement of the current movement runs. If the overall market can develop positively in the coming trading weeks, BNB could start its maximum price target for the time being in the area of the orange resistance zone between USD 608 and USD 624. For the time being, there is only a low probability of this scenario; the bullish momentum on the market as a whole is currently too weak.
Bearishe Variante (BNB)
As expected in the previous week’s analysis, a directional decision is currently being made in the blue support area. A daily closing price below the cross support of EMA200 (blue) and MA200 (green) at USD 299 will activate further downside potential. If there is a sustained break in this support zone, BNB will consolidate at least to the lower Bollinger band at USD 280, but should even drop to USD 264 in the short term. If this price level is also abandoned, a widening of the correction to the last low at USD 224 is likely. A direct price slide to the May 23 low at USD 211 is also conceivable.
If Bitcoin falls below USD 30,000 in the direction of its low at USD 28,830, BNB could also continue to trend bearish and break down to the lower edge of the yellow support area at USD 186. In the medium term, a relapse of up to USD 165 is possible at any time. The maximum correction target can still be found in the green support zone between USD 148 and USD 124. These support levels come into view, should Bitcoin also give way and correct up to at least 25,000 USD. The first clear sell-signal would be a dynamic break in the blue support zone.
Indicators (BNB)
The RSI is currently threatening to break down from its neutral zone between 45 and 55. This activates a fresh sell signal for the Binance Coin. The MACD could also negate its buy signal of the last few weeks on a daily basis and generate a fresh short signal. The MACD continues to have a sell-signal in the weekly chart. If the RSI indicator should also leave the neutral zone on a weekly basis, the selling pressure threatens to intensify again.
Worst price development among the top 10 altcoins:
Polkadot (DOT)
Price analysis based on the value pair DOT / USD on Binance
Polkadot comes in last of the top 10 altcoins this week again clearly under the wheels. On a weekly basis, Polkadot loses around 25 percentage points and activated a fresh sell signal when it fell back below the low at USD 13.12. Yesterday, Sunday, Polkadot failed with the attempt to save itself back above this price level and is currently forming a new low at USD 11.50.
Bullishe Variante (Polka dots)
The cops continue to shine with abstinence. As long as the DOT rate cannot rise back above USD 13.12 in the direction of the EMA20 (red) and beyond, there is a threat of a correction widening to at least USD 10.66. However, if the buyer store manages to buy the DOT rate up to the cross support at USD 15.42, a directional decision will be made here. Only a daily closing price above the supertrend running here activates further price potential in the direction of the 23rd Fibonacci retracement at 17.25 USD. If this chart mark is also broken, the red resistance area moves back into the focus of investors. A strong resistance cluster awaits at USD 18.35 in particular with the EMA50 (orange) and the upper Bollinger band. If this level of resistance can be regained, a subsequent increase of up to USD 19.45 is conceivable. The trailing edge of the current downward movement can be found here.
Should the bullish investors manage to move Polkadot sustainably above this resistance, an increase to the cross resistance at USD 21.71 is conceivable. The EMA200 (blue) and an important horizontal resistor run here. A breakout above this resistance level is therefore not to be expected at the first attempt. However, if the bulls manage to regain this price level in the coming weeks, investors will again focus on the 38 Fibonacci retracement at USD 23.49. If this resist is also overcome dynamically, a march through to the yellow resistance area is possible. In addition to the highs from May and June of this year, the MA200 (green) runs at USD 26.72. In the first attempt, a march back to the maximum price target for the coming period of USD 28.82 should not succeed. Only when Bitcoin can also rise again towards USD 40,000 would a return to the blue box be conceivable. From the current point of view, however, an increase into this chart region is not to be regarded as likely.
Bearishe Variante (Polka-dot)
If Polkadot fails to get back into the green support area and establishes itself below USD 13.12, the breakout level of January 13, 2021 at USD 10.66 will be the first correction target. If the bulls cannot stabilize the DOT rate at this important support either, the correction will expand significantly into the purple support area between USD 7.89 and USD 7.19. Should Bitcoin target USD 25,000 or even USD 20,000 in the coming weeks, Polkadot should break into the orange support area between USD 6.33 and USD 5.72. A sustained overall market weakness could subsequently even allow Polkadot to correct to the maximum bearish price target of USD 4.59. As long as Polkadot cannot initiate a recovery move back above the EMA20, another price decline should be planned.
Indicators (Polka dots):
Both the RSI and the MACD indicator continue to have sell signals active. With a value of 32, the RSI indicator in particular is not far from its oversold area at a value of 30. The bulls must aim to move the RSI indicator back into the neutral zone between 45 and 55 as quickly as possible. Only then would the danger of a sustained downward trend be averted, at least for a short time.
Top 10 stability
Bitcoin (BTC) is trading a good ten percent lower than in the previous week at the end of this trading week. Even the top 10 altcoins cannot escape this price weakness. The ten largest cryptocurrencies all show a discount in the weekly comparison. Polkadot (DOT) tops the list of losers with a decline of 25 percentage points. Uniswap (UNI) also had to give up significantly after two positive weeks of trading and lost 24 percent of its value. The Binance Coin (BNB) can best get out of the affair again with a price discount of only 11 percent. Ripple (XRP) also holds up a little better than the competition and loses a little more than 12 percentage points. With regard to the ranking list, there will be no changes in the ranking list this week. Since the overwhelming majority of the top 10 altcoin are losing at a similar rate, the ranking remains unchanged on a weekly basis.
Winner and Loser of the Week
Once again, the overall market is coming under more pressure and has to cope with some significant price drops across the board. Only three top 100 Altcoins show a price gain at the end of the week. In addition to NEM (XEM) with a 7 percent surcharge, OKB (OKB) can also generate a price increase of two percent. Hedera Hashgraph (HBAR) also saved a small price increase of just under one percentage point. The long list of weekly losers is headed by THORChain (RUNE) with a 41 percent drop in price. As a result of a hack of the Crosschain platform, $ 5 million in Ethereum was stolen. The Synthetix Network Token (SNX), Stacks (STX) and the previous week’s loser Telcoin (TEL) are also weak, each with a price decline of around 35 percent.
Flow (FLOW) and the previous week’s winner KuCoin Token (KCS) each lose around 32 percent of their value. With a few exceptions, the market as a whole is tending to be bearish, but there was no further strong sell-off in the past week. As long as the crypto key currency Bitcoin (BTC) can stay above USD 30,000 and the trading volume is still well below the volume of the previous months, it remains to be seen whether there will be a sustainable breakthrough of this important support brand. The strong inflows of bitcoins and stable coins on all crypto exchanges in the last hours of trading are cause for concern. If the selling pressure continues to rise, the chance of a relapse increases dramatically to at least $ 28,000.
Disclaimer: The price estimates presented on this page do not constitute buy or sell recommendations. They are only an assessment of the analyst.
The chart images were created using TradingView created.
USD / EUR exchange rate at the time of going to press: 0.85 euros.
The dearMoon project, promoted by the Japanese businessman Yusaku Maezawa, is looking for 8 companions with an artistic vocation for a trip to the Moon scheduled for 2023. So far, the proposal has registered one million reservations to participate. Among those registered are figures of science, sports and art. And you, would you sign up to get to the Moon?
Wine, beer and spirits. To date, Migros has no alcohol in its range.
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Apparently, Migros delegates are planning to overturn the self-imposed alcohol sales ban.
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Main competitor Coop is growing much faster than Migros and is already very close to the orange giant with sales of twelve billion francs last year.
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The German discounter Aldi and Lidl, which meanwhile also offer practically all fresh and organic products – in addition to a wide range of alcohol, are providing even more pressure.
It would be a break with the wish of Gottlieb Duttweiler (1888-1962): At the next delegates’ meeting in November it will be discussed whether alcohol should be sold in Migros stores in the future. As the “SonntagsZeitung” reports, citing various sources, it is a “major concern of certain cooperative managers”.
But what do customers think about the lifting of the self-imposed ban on the sale of alcohol? The Blick community is divided.
“Migros robs itself of its identity”
“Dutti would turn around in his grave,” writes reader Peter Bucher in the discussion. “Migros has not been what it claims to be for a long time,” thinks Herbert Roll. According to Martin Kalt, the retailer would thereby give up its “unique selling proposition with a company history background”. It sounds similar in our Facebook community. “Jesus Christ, where have the values gone?” Asks Alessandra Kälin.
But it’s not even a matter of principle. Some readers fear that alcohol could drive other beloved products out of the range. Ultimately, the sales area is limited, as Ugo Pisello writes: “Then the proven and popular range of own brands will give way, but the overpriced branded products from multinationals like Nestlé will remain.” He also realizes that Migros could catch up with the competition by selling alcohol – “but it is robbing itself of its identity”.
“The Denner is next door anyway”
For part of our community, Migros’ alcohol sales ban is just a farce anyway. “Oh, Denner is usually right next door anyway,” writes Carmen Esch. The discounter has been part of Migros since 2007. And anyway: “Anyone who wants to buy alcohol just visits the shops that offer it,” believes Eva Betschart.
Ultimately, however, an alcohol-free range is simply no longer up-to-date. “The ban is old hat,” says almost half of the community in our voting. “Times have changed, that’s why Migros should do the same,” writes Hanspeter Schäu. Pesche Schlatter believes that Dutti’s rules have proven their worth for a long time, but should now be abolished: “We are in the 21st century, not in 1929.”
Brokers work on the New York Stock Exchange (United States). EFE / Justin Lane / Archive
Shares in the United States and Europe fell sharply on Monday, with indicators linked to the economy and travel impacted after a rise in global COVID-19 cases, what gender new fears of a slowdown in economic growth.
At the close of Wall Street, and after a consecutive series of positive records in recent weeks, the Dow Jones, the main industrial index, fell 2.09%, while the selective S&P 500 fell 1.59% and the technological Nasdaq it fell 1.06%.
In Europe, the falls were slightly more pronounced. The Paris stock market lost 2.54%, the German DAX index fell 2.62% and the British FTSE lost 2.34%.
Asian markets also closed their session on Monday with losses due to high inflation, rising oil prices and the spread of the Delta variant of the coronavirus. “Fears for future (economic) growth with the advance of the Delta variant is certainly a cause for concern”Acknowledged Sebastian Paris Horvitz, analyst at LBPAM.
Among the values most affected by the falls were those of companies that especially benefited from the economic reopening, such as airlines or cruise companies, given the fear that the restrictions against the coronavirus will be extended again.
The energy sector was also suffering, dragged down by a sharp drop in the price of oil due to these fears and after confirming the agreement of the large producers to progressively increase the supply during the second half of the year.
In turn, the price of Texas Intermediate Oil (WTI) closed this Monday with a fall of 7.51%, to 66.42 dollars a barrel, after the agreement of the producing countries to increase the supply during the second half of the year and with the market very nervous about the advance of the delta variant of COVID-19.
For its part, the price of a barrel of Brent crude for delivery in September suffered a pronounced drop in the London futures market on Monday and closed the day at 68.62 dollars, 6.75% less than at the close of the previous session.
The increase in coronavirus cases in many countries, linked to the advance of the delta variant, weighs on the markets given the prospect that restrictions may return and economic recovery slows down. Some investors also fear that inflation in the United States will lead the monetary authorities to withdraw stimulus measures and that growth will slow down as a result.
In England, meanwhile, nearly all COVID-19 restrictions were lifted on Monday, a move criticized by many health experts but hailed by the media and their supporters as “freedom day.” “Far from providing an added dose of confidence to investors, ‘Freedom Day’ appears to be a setback”, He declared to the AFP Susannah Streeter, an analyst at Hargreaves Lansdown. “The sharp rise in Covid infection rates across the UK and concerns about a further relaxation of restrictions are likely to be behind the drop.”
“Risk aversion has remained the dominant theme until now,” said Fawad Razaqzada, an analyst at ThinkMarkets. “The sell-off has been pretty brutal for stocks, but it’s hard to say if it’s just a pullback before there are more gains at some point later or if it’s the start of something really important,” he added.
On Friday, the Dow Jones had finished down 0.86%, closing at 34,687.85 points, while the Nasdaq technology fell 0.80% (to 14,427.23 points), and the expanded S&P 500 index a 0.75% (to 4,327.16 points).
(With information from AP, Reuters, AFP, EFE)
Keep reading:
Macron, on the French who do not want to be vaccinated: “This time you are staying at home, not us”
The lithium supplier Vulcan Energy from Germany has signed a long-term supply contract with the South Korean battery manufacturer LG Chem. LG Energy Solutions (LGES) plans to purchase 5,000 metric tons of lithium hydroxide in the first year and gradually increase the volume to 10,000 tons per year, the Australian-listed company Vulcan Energy announced on Monday.
The start-up from Karlsruhe wants to extract lithium from thermal water in the depths of the Upper Rhine Rift. The contract is to start at the planned start of production in mid-2024 and run for five years.
Opel’s parent company Stellantis is one of the potential buyers of Vulcan, and according to insiders it has issued a letter of intent to purchase the raw material that is important for e-car batteries. The order volume from LGES will make up a quarter of total production by the ramp-up in 2026, Vulcan Energy said. The demand from automobile manufacturers is currently very high, said Vulcan manager Francis Wedin. The company may want to grow by taking on other projects and is also considering an IPO, he added.
With the switch to electric cars, the demand for the battery raw material is increasing massively. According to estimates by geologists, the region in southwest Germany contains enough lithium for more than 400 million electric cars. Using the Vulcan Energy process, hot thermal water is pumped to the surface from a depth of thousands of meters, generating heat and electricity. The lithium hydroxide can be extracted from the water, which then flows back down into the depths. By 2024, 15,000 tons of it are to be extracted per year in two plants. In the second phase, starting in 2025, the company is planning three more plants for a volume of 40,000 tons. That would be enough lithium for the battery cells of a million electric cars. According to earlier information, this will require investments of 1.7 billion euros.
Whatsapp deleted numerous accounts associated with sending spam within a month. Most of these accounts are from India.
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Receiving chain letters via Whatsapp is a hassle.
Getty Images
Accounts that send such messages in bulk can now be blocked.
Getty Images
Whatsapp implemented this between May and June 2021.
Getty Images
Whatsapp deleted over two million accounts.
The reason is a new regulation that regulates the sending of messages.
According to this it is not allowed to send too many messages at once.
In India in particular, countless accounts fell victim to this new regulation.
Chain letters or spam messages are repeatedly sent via WhatsApp. This can be extremely annoying for the recipients of these messages, especially if it happens repeatedly. That is why Whatsapp has announced that it will take stronger action against such spam messages.
The company announced that it would specifically block accounts that send “a high volume and an abnormal number of messages”. As a result, more than two million accounts were blocked from the chat platform within a month.
How many messages are too many?
The question now arises, what actually counts as too many messages. Do you get a problem if you send your friend or your mother ten messages in a row? The simple answer to that is no. Since Whatsapp wants to take action against mass spam and fraudulent messages, accounts that have automated the sending of messages and can thus send many more text messages in a short period of time than would be possible for a single person are blocked.
According to Whatsapp, around 95 percent of these two million blocked profiles are such accounts. Most of them are in India, which is also where most Whatsapp users are, according to Express.co.uk. In fact, Whatsapp is used by around 400 million people in India. The company has around two billion users worldwide.
Accounts are often deleted
It’s not uncommon for Whatsapp to close so many accounts at once. The company announces that around eight million accounts from all over the world fall victim to a ban every month. This can happen due to sent content such as illegal pictures or videos, but also from accounts behind which fraudsters are suspected.
Whatsapp has announced that it will be proactive in this regard. A statement reads: “We are particularly focusing on prevention because we believe that it is better to stop harmful behavior from the start and not wait and take action when the damage has already been done.” Therefore, Whatsapp uses the abuse detection both when setting up an account, when sending messages and in the event of negative feedback.
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This Monday, July 19, dollar started operations in Mexico with an average price of 19.82 pesos. On purchase it is listed at 19.60, while on sale it is at 20.05.
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The dollar settled near its highest levels in months on Monday as the spread of the Delta coronavirus variant made investors nervous about the global recovery and sent money to safety.
The US dollar index held at 92.729, not far from last week’s three-month high of 92.832. The euro sold at $ 1.1801, just slightly above last week’s three-month low of $ 1.1772.
The dollar rose on Friday to record its biggest weekly gain in a month, bolstered by positive retail sales data that bolstered expectations that economic growth accelerated in the second quarter.
The dollar index, which measures the performance of the greenback against a basket of currencies, rose 0.11% to 92.675, up 0.6% for the week.
US retail sales unexpectedly increased in June as demand for goods remained strong, even though spending is shifting to services.
A survey that showed US consumer confidence fell sharply in early July to a five-month low on inflation concerns did not affect the strength of the dollar.
Strong US data and a shift in interest rate expectations after the Federal Reserve suggested earlier-than-expected hikes in June in 2023 helped propel the dollar in recent weeks and made investors nervous about rates. short bets.
The dollar’s advance came despite Fed Chairman Jerome Powell reiterating Thursday that rising inflation is likely to be transitory and that the US central bank will continue to support the economy.
“The data was consistent with substantial progress in the economy and solidifies expectations for very strong second quarter growth of around 10%,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
Closing of the Mexican market
The Mexican peso gained on Friday at the end of a week marked by an increase in COVID-19 cases in various regions of the world, and expectations about the next steps in the monetary policy of the United States Federal Reserve.
The stock market, meanwhile, lost after scoring a solid advance in the previous session, with investors’ attention focused on the quarterly reporting season both on Wall Street and in Mexico.
The local currency, which posted a marginal loss for the week, was trading at 19.8990 per dollar near the end of the session, up 0.18% from 19.9350 in the Reuters reference price on Thursday.
Meanwhile, the benchmark S & P / BMV IPC stock index fell 0.25% to 50,148.13 points, with a volume of 102.5 million securities traded. The market advanced 1.7% on Thursday, its biggest daily jump since the first week of June. In the week it gained 0.76%.
The president of the Fed, Jerome Powell, has said that the inflationary pressures are of a transitory nature and that the US economy remains “very far” from where the entity wants to see it before reducing its monetary support.
However, US Treasury Secretary Janet Yellen mentioned that she expected several more months of high inflation readings.
Meanwhile, COVID-19 infection rates have resurfaced in several countries, especially in Africa and parts of Asia, as the Delta variant continues to consolidate. Mexico has been reporting more than 10,000 new infections daily for three days in a row.
“Investors are assessing the outlook for the global economy amid continued strong monetary support and fears of further restrictions from COVID-19,” local firm CI Banco said in a report.
In the debt market, the 10-year bond yield rose four basis points to 6.94%, as did the 20-year rate, which closed at 7.45%.
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