MEXICO CITY.- The peso spun on Friday five sessions with profits and four of them below 19 units per dollar.
The exchange rate was 18,8529 pesos per dollar, an appreciation of 0.05% for the national currency, according to Banxico closing data. In the weekly accumulated, the weight gained 1.65%.
The weight has remained in the last four days at levels not seen since mid -August last year. With today’s data, the weight had its best level since August 19, according to Banxico.
The progress of the weight was given in the midst of signals of progress in commercial negotiations between the United States and China, although during the day President Donald Trump said he would end the conversations with Canada.
“The peso was driven by optimism around the progress of commercial negotiations worldwide, as well as a correction in the appreciation of the dollar,” the Monex financial group said in a report.
“Towards the Overnight, we would expect the weight to oscillate in a range between $ 18.79 and $ 18.90, considering the trend of the exchange rate, waiting for possible tariff novelties during the weekend and a quite light economic agenda on Monday,” he added.
Lee: The peso returns to the level of the 18 units per dollar
Investors also attributed the valuation of the currency to an inflation report in the United States that fueled the bets to be reduced by the costs of short -term loans in 75 base points in 2025, according to a Reuters report.
Awarded the bets for greater appreciation decreased for the third consecutive week in the Chicago Mercantile Exchange despite the speculative positions were kept in favor of the currency.
“I think you can still improve the exchange rate,” said Eduardo Ramos, an VT Markets Latam analyst. “With the current conditions it does not seem far -fetched to see again a ‘super weight’, but the market will say,” he added.
Lee: EU says that the agreement with Beijin will accelerate the exports of rare lands of China
In Mexico, the session was marked by figures that showed that the unemployment rate rose slightly in May, while investors continued to assimilate the decision on the eve of Banco de México to reduce its key rate again at half a percentage point.
Mexican bag has better weekly performance since May
The referential stock index S&P/BMV IPC decreased 0.14% to 57,391,51 points, reversing its initial profits. Even so, the week ended with an accumulated yield of 2%, its best performance since May.
Friday’s decline was headed by the TV Grupo Titles, with 4.71% less than 8.69 pesos, on its third day of losses, after having reached its best levels since November.
S&P Global Ratings reviewed on the eve to “negative” from “stable” the perspective of the credit note of the telecommunications firm – “BBB” global scale and “mxaaa” in national scale- arguing a fall in the base of subscribers.
In the secondary debt market, the 10 -year bonus yield descended 11 base points to 9.15%, on the other hand, the 20 -year rate rose four, to 9.89%.
With information from Francisco Rivera and Reuters
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