The peso was appreciated on Wednesday after an unexpected drop in producer prices in the United States strengthened the bets to be cut by interest rates next week.
The Producer Price Index (IPP) for the final demand gave in August 0.1% after an increase of 0.7% reviewed down the previous month. Economists consulted by Reuters hoped that 0.3%would advance.
The currency quoted at 18,5830 units almost at the end of business, with an advance of 0.26%, on its fourth consecutive day of profits.
“Today’s report strengthens the expectation of a decline in the reference rate at the Fed meeting next week,” said Grupo Financiero Banorte, in an analysis note.
The IPP data joined a disappointing report of the non -agricultural payroll released last week and a downward review on the eve of employment growth.
According to the CME Group Fedwatch tool, operators see 92.1% probabilities of a 25 -base rate cut by the US Central Bank in its decision of September 17 and 7.9% half point.
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“Facing the future, attention now focuses on the publication of the IPC on Thursday,” said Felipe Barragán, market research strategist Pepperstone.
“A more moderate inflation figure would probably confirm today’s surprise and intensify the selling pressure on the dollar, while more solid data could offer a brief respite,” he added.
The S&P/BMV IPC stock index descended 0.31% to 60,489.19 points, after having risen in the morning a new historical maximum of 60,987.35 units.
The shares of the insurer Quálitas led the setback, with 3.95% less than 168.0 pesos, followed by those of the Grupo Carso conglomerate, which reduced 3.06% to 123.17 pesos.
In the secondary debt market, the 10 -year bonus yield rose a base point to 8.73%, while the 20 -year rate decreased two, to 9.34%.
With Reuters information.
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