The Mexican peso fell on Thursday, while the stock ended the week with accumulated losses, in a market with its sights set on the next monetary policy announcement from the US Federal Reserve (Fed) on Wednesday.
The exchange will remain closed on Friday for a local holiday.
The local currency was trading at 20.0771 per dollar almost at the end of business, with a depreciation of 0.68% against the Reuters reference price on Wednesday, after a day where the currencies of Latin American countries had a downward trend.
The session was full of macroeconomic data that came from USAsuch as the increase in its retail sales and import prices in August, helped by the decrease in the cost of petroleum products, or the decrease in the requests for unemployment benefits.
But none of the figures removed the possibility that the Fed make another sharp hike in interest rates next week following Tuesday’s above-expectations inflation figures and fears of a global economic slowdown.
“Global financial markets continued to show concern about the high inflation that prevails,” said analysts at the Metanalisis consultancy.
Barclays on Thursday lowered growth forecasts for the Gross Domestic Product of Mexico for 2023 to 1.2%, in the midst of a “synchronized slowdown” in the global economy and while the strong points that gave the country resistance in 2022 cool down Read full story
The benchmark stock index S&P/BMV IPC it rose a marginal 0.05% to 46,769.78 points, accumulating a 0.58% decline for the week.
The titles of the mining Penoles Industries led the advance on Thursday, with 4.36% more to 226.58 pesos, followed by those of Grupo Financiero Banorte GFNORTEO. MX, which added 3.48% to 133.94 pesos.
In the debt market, the yield on the 10-year bond rose nine basis points to 9.18%, while the 20-year rate rose seven to 9.26%.
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