The local currency extends the retreat it experienced in yesterday’s session after receiving new data this morning on inflation and employment in the world’s largest economy, the US.

The Mexican peso operates at a loss on Thursday afternoon. The local currency extends the retreat it experienced yesterday following a report on US producer inflation, after learning about inflation and labor reports from the world’s largest economy.

The spot exchange rate is at the level of 16.4800 units per dollar. Compared to a close of 16.4410 units yesterday, according to data from the Bank of Mexico (Banxico), the peso loses 3.9 cents, which is equivalent to a 0.24 percent change.

The price of the dollar operates in a range between a maximum of 16.4935 units and a minimum level of 16.3755 units. The Dollar Index (DXY), from the Intercontinental Exchange, which measures the greenback against six reference currencies, rises 0.14% to 105.39 units.

The weekly number of Americans filing for unemployment benefits was 211,000, lower than the 216,000 expected by analysts and the 222,000 from the previous week, indicating strength in US employment.

The data comes after a report on consumer inflation yesterday that raised doubts about how likely it is for the Federal Reserve (Fed) to cut rates this year, alongside a report on producer inflation lower than expected.

The US Producer Price Index (PPI) increased by 0.2% in March and 2.1% annually, below the expected 0.3% and 2.2%. In February, the increase in producer inflation was 0.6% monthly and 1.6% annually, the second year-over-year acceleration.

The market also digested the European Central Bank’s (ECB) decision to leave interest rates at historic highs. On the local front, traders are reviewing a local report showing that industrial activity suffered a slight setback.