The peso and the BMV fell this Friday, reversing their initial gains, after the release of a long-awaited US inflation report that was slightly lower than expected.
The Consumer Price Index (CPI) rose 0.3% last month. In the 12 months through September, the CPI advanced 3.0%. Economists surveyed by Reuters had predicted that the indicator would grow 0.4% monthly and 3.1% year-on-year.
The dollar stood at 18.4411 pesos, a depreciation of 0.25% for the national currency compared to the previous session, according to closing data from Banxico. During the session the peso strengthened to 18.3444 units per dollar.
“The behavior of the exchange rate shows that it has entered a consolidation phase in a channel 18.30 and 18.60,” said the Banco Base firm in an analysis note.
“The swing indicators show that the downward pressures on the exchange rate have been reduced. Considering the above, it is most likely that it will remain trading above the key support of 18.30 pesos per dollar,” he added.
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The benchmark S&P/BMV IPC stock index fell 0.60% to 61,145.49 points, in a market also with its sights set on the quarterly results season.
The titles of the mining company Industrias Peñoles led the declines, with 3.86% less to 734.25 pesos, followed by those of the telecommunications firm Megacable, which fell 3.73% to 52.97 pesos.
In the secondary debt market, the 10-year bond yield rose three basis points to 8.65%, while the 20-year rate rose five basis points to 9.30%.
With information from Reuters.
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