The peso and the BMV fell on Tuesday, dragged down by renewed concerns about the trade relationship between the United States and China, which undermined appetite for risk assets.
The session was also marked by comments from Federal Reserve officials, including Chairman Jerome Powell, who noted that policymakers will take a “meeting-by-meeting” approach to any further interest rate cuts.
The currency was trading at 18.5004 per dollar almost at the end of business, with a depreciation of 0.19% compared to the 18.4651 units of the LSEG reference price on Monday.
“The peso was affected by the feeling of risk aversion in the markets, given the latent trade tensions between China and the United States,” said Monex Grupo Financiero.
“Towards overnight, we would expect the peso to fluctuate in a range between 18.46 and 18.57, due to tariff uncertainty,” he added.
The benchmark S&P/BMV IPC stock index fell 0.43% to 60,785.62 points, in a market also with its sights set on the disclosure of the first corporate results reports for the third quarter.
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Carlos Slim’s América Móvil is scheduled to publish its quarterly report in the afternoon. Its titles fell 2.03% to 19.33 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 7.40%, seven basis points below its previous auction.
With information from Reuters.
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