The peso advanced and the Mexican Stock Market rose after three days of losses, following the publication of the minutes of the September meeting of the Federal Reserve.
According to the minutes, U.S. central bank policymakers agreed that risks to the labor market had grown enough to justify an interest rate cut.
The currency closed at 18.33 units per dollar, with an appreciation of 0.34%, although in an uncertain market on the eighth day of the partial closure of the US government that keeps the publication of official macroeconomic information suspended.
“Faced with an almost zero economic agenda because the non-essential activities of the US government remain closed, the markets’ attention focused on the minutes of the last Fed meeting,” said Grupo Financiero Banorte, in an analysis note.
“Members showed willingness to reduce interest rates further this year, but many expressed caution as they have been off target for inflation for so long, with heightened tensions currently stemming from tariffs,” he added.
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The benchmark S&P/BMV IPC stock index rose 1.12% to 60,888.56 points. In the previous three days it accumulated a decline of 3.2%.
The securities of the mining company Industrias Peñoles led the increases, with 5.06% more to 797.29 pesos, followed by those of the insurance company Quálitas, which added 3.71% to 175.95 pesos.
For its part, Grupo México shares advanced 2.28% to 141.36 pesos, in its second day of gains after having collapsed 15% on Monday.
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In the debt market, the 10-year bond yield ended at 8.67%, unchanged from its previous close, as did the 20-year rate, which ended the day at 9.30%.
With information from Reuters.
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