MEXICO CITY.- The weight spun seven sessions with profits in the middle of the approval of President Trump’s fiscal package in the US Senate.
The exchange rate was 18,7307 pesos per dollar, an appreciation of 0.18% for the Mexican currency, according to Banxico closing data.
“The peso was affected by the morning strengthening of the dollar, but regained ground after evaluating the approval of Trump’s fiscal package in the Senate, focusing attention to the extent that Congress takes tonight,” the Monex financial group said in a report.
The fiscal package was sent to the House of Representatives, where it is expected to be reviewed on Wednesday and approved before Friday.
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The base financial group indicated that the appreciation of the peso happened along with a small weakening of the US dollar of 0.05%.
The session was also marked by comments from the head of the Federal Reserve, Jerome Powell, who reiterated that the monetary entity “wait and know more” on the impact of tariffs on inflation in the US before lowering interest rates.
In addition, an American report showed that the world’s labor market continues to resist an increase in job offers in May.
In Mexico, a Central Bank survey between private analysts showed that the market awaits a weakening of weight compared to its current levels, to close the year in 20.13. Even so, the perspective is better than the 20.50 projected in their survey last month.
The referential shareholding index S&P/BMV IPC rose 0.63% to 57,813.82 points.
The titles of the Microfinanciera Peoplera led the increases, with 4.54% more at 41, .91 pesos.
The firm announced on the eve that it obtained an increase in its credit lines with Banco Actinver and Banco del Bajío, as well as its subsidiary shares Banco, in Peru, with the governmental cooperation fund for social development.
In the secondary debt market, the 10 -year bonus yield decreased four base points to 9.15%, as well as the 20 -year rate that fell to 9.79%.
With Reuters information
