The peso appreciated on Tuesday in a session of reduced liquidity on the eve of the Christmas celebration, while investors kept their sights on the interest rate outlook and the implications of the next US government of Donald Trump.
The Mexican Stock Exchange (BMV), meanwhile, ended with losses a day that had a shorter duration than usual.
The peso was trading at 20.1472 per dollar, with an advance of 0.10% compared to the LSEG reference price on Monday.
“Investors show a feeling of calm with the beginning of the New Year and Christmas holiday period, even though the economic scenario for 2025 mainly involves Trump’s return to the White House and a less accommodative monetary policy by the Federal Reserve ( Fed),” said the CIBanco firm in an analysis note.
Last week, the Fed cut interest rates by a quarter of a percentage point, as the market expected, in its third straight cut, but signaled that it will slow the pace of declines in borrowing costs next year.
At the local level, Banco de México also reduced its key rate by 25 basis points, instead warning that it could consider larger adjustments in future meetings given progress in inflation.
The benchmark S&P/BMV IPC stock index fell 0.27% to 49,316.62 points, with a volume of just 30.8 million shares traded, well below the daily average of more than 200 million in recent months.
The shares of the restaurant operator Alsea led the decline, with 3.05% less to 43.51 pesos, followed by those of Grupo Financiero Inbursa, which fell 1.64% to 43.22 pesos.
In the secondary debt market, the 10-year bond yield rose three basis points to 10.46%, while the 20-year rate rose two basis points to 10.78%.
With information from Reuters.
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