The peso appreciated this Tuesday driven by a renewed appetite for risk after the publication of an inflation report in the United States that was lower than expected.
Adding to the good mood were reports that the team of the next US president, Donald Trump, would be analyzing implementing a gradual increase in tariffs to avoid an impact on prices.
The peso was trading at 20.5249 per dollar almost at the end of business, with an appreciation of 0.61% compared to the LSEG reference price on Monday, when it weakened to 20.8700 units, its worst level so far this year.
The United States reported that producer prices grew 0.2% in December, below the expectation of 0.3%. Still, analysts believe that is unlikely to change the view that the Federal Reserve (Fed) will not reduce interest rates again before the second half of the year.
Markets are now awaiting the release of US December consumer price data on Wednesday to get a better picture of the pace of rate cuts.
Lee: Peso advances after reports that Trump would implement a gradual increase in tariffs
“The peso benefits from macro data in the United States and Trump rumors,” said Monex Grupo Financiero, in an analysis note. “Towards overnight, we foresee a range between 20.41 and 20.59 considering the current trend and waiting for inflation data in the United States tomorrow,” he added.
The benchmark S&P/BMV IPC stock index advanced a marginal 0.03% to 49,844.0 points.
The titles of Gentera, specialized in credit services, led the increases, with 4.79% more to 25.81 pesos, followed by those of the airport operator OMA, which added 4.70% to 195.63 pesos.
In the debt market, the primary yields of Treasury Certificates (Cetes) fell in most of their terms in the weekly auction of government securities. The 28-day benchmark Cete rate was placed at 9.78%, 10 basis points below its previous auction.
With information from Reuters
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