Markets recorded mixed movements on Friday, ending a week of gains, amid a wave of sales of US assets due to tensions over President Donald Trump’s plans to control Greenland.
At the local level, the session was marked by the release of figures that showed an unexpected contraction in economic activity in November. The data precedes a highly anticipated fourth-quarter GDP report from Mexico that will be released next week.
The peso appreciated 0.64% when the exchange rate stood at 17.3677 units per dollar, according to closing data from Banxico. The national currency had three sessions with advances and remained at its best level against the dollar since the end of May 2024.
Lee: Peso has had a better level against the dollar since the end of May 2024
In the weekly accumulated, the peso gained 1.58%, while investors begin to set their sights on the next monetary policy decision of the US Federal Reserve scheduled for January 28.
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“My projection for next week is given in a USD/MXN pair that faces crucial psychological and technical support at 17.35,” said Felipe Mendoza, executive director of the investment manager IMB Capital Quants.
“Any sign that rates in the US will fall slower than expected would strengthen the dollar globally, which, added to the weakness of Mexican manufacturing, could trigger profit-taking that returns the exchange rate above 17.60,” he added.
Stock market down 0.22%
The main stock market index, the S&P/BMV IPC, fell 0.22% to 68,195.98 points, according to preliminary closing data, interrupting a five-day streak of gains that led it to reach an all-time high of 67,545.88 points the day before.
The stock market accumulated a weekly return of 1.57% in a market also with attention focused on the first reports of the local corporate results season for the fourth quarter.
Among the firms with the worst performance in the session, Kimberly-Clark of Mexico stood out, whose shares fell 1.60% to 39.85 pesos, after it released its quarterly report the day before.
In the secondary debt market, the 10-year bond yield fell eight basis points to 9.0%, while the 20-year rate fell 14 basis points to 9.30%.
With information from Reuters
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