Mexico City, (Reuters) .- The peso and the BMV advanced before a global weakening of the dollar and after the president of the Federal Reserve, Jerome Powell, affirmed that the Central Bank would expect more data on the direction of the US economy before changing interest rates.
In a speech at the Chicago Economic Club, Powell spoke of a potentially difficult situation for the bank, in which inflation is driven up by tariffs, while growth and possibly employment weakens.
The weight culminated the session in 19,9200 units, with a gain of 0.89% compared to 20,0990 pesos of the LSE reference price on Tuesday, its best closing level since April 3.
“After a generalized decline in the dollar against most coins, operators assimilate Powell’s comments in the Chicago Economic Club, any news about Trump’s tariffs and economic data in the United States,” said the Cibanco firm in an analysis note.
Investors received with good mood a solid report of China’s gross domestic product in the first quarter despite commercial tensions with Washington, while retail sales grew more than expected in the United States in March.
At the local level, he stressed that Fitch Ratings reiterated Mexico’s credit qualification in “BBB-” with a “stable” perspective.
Lee: Fitch ratifies Mexico qualification, but foresees contraction
BMV rises 0.71%
The referential stock index S&P/BMV IPC rose 0.71% to 53,018.57 points, with a volume of 168.2 million negotiated shares, below the daily average of about 200 million in recent months, due to the holiday period of Holy Week.
The bag spun three consecutive earnings sessions.
The titles of the Minera Industrias Peñoles led Wednesday’s increases, with 7.85% more at 425.44 pesos, followed by those of the Bursatile BMV stock market operator, which added 3.90% to 38.59 pesos.
In the secondary debt market, the 10 -year bonus yield amounted to six base points to 9.53%, while the 20 -year rate advanced two, 10.11%.
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