The peso and the bag backed on Friday after knowing that the economy of the country contracted during the last 2024 quarter in line with what is initially calculated by the INEGI, underpinning concerns that it would be on its way to a recession.
The Gross Domestic Product showed a quarterly decline of 0.6%, without changes against what had been predicted at the end of January. Even so, in all 2024 the economy grew 1.2%, slightly lower than the initial calculation of 1.3%
The dollar was 20,4131 pesos, a depreciation for the national currency of 0.49%, according to Banxico data. In the weekly accumulated, the weight lost 0.54%.
The peso was affected by the weak GDP figures and the global indicator of the December Economic Activity (IGAE) published by the INEGI this Friday, and by the strengthening of DXY dollar index, according to a Monex report.
The IGAE, an indicator that measures the evolution of the economy in monthly terms, contracted 1% in December compared to the previous month, its greatest fall since January 2024, according to inegi de -station data.
“Towards the overnight, we would expect the weight to oscillate in a range between $ 20.33 and $ 20.48, considering the progress of the dollar and the weakening of the weight, waiting for the elections of Germany (Sunday) and knowing the report of biweekly inflation in Mexico the Monday, ”he added, the financial group.
To the discouragement of the participants, a report was added in the United States that showed that the business activity of Mexico’s main business partner almost stagnated in February.
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Other US figures reflected on Friday that consumers’ confidence fell more than expected in February to a minimum of 15 months, while existing housing sales decreased more than expected in January
The attention of the markets is also put in news related to the tariff threats of President Donald Trump.
In the Chicago Mercantile Exchange, the speculative positions in favor of an appreciation of the Mexican peso were moderated slightly after three consecutive weeks on the rise.
Televisa has a greater fall since the end of November
The referential stock index S&P/BMV IPC yielded 1.11% to 53,701.16 points at preliminary closure, in a market also with the sights placed in the season of corporate results of the fourth quarter.
The actions of Grupo Televisa, which on the eve reported an increase in its losses in the fourth quarter of 2024, fell 4.84%, its greatest decrease since November 25, according to research.com data.
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On the other hand, the titles of the Coca-Cola FEMSA bottling (KOF) rose 5.28% to 181.19 pesos after publishing a solid report of results.
In the secondary debt market, the yields of the long -term bonds went down in the middle of bets that Banco de México would significantly reduce the costs of indebtedness in March. The inflation data of the first half of February will be key on Monday.
The 10 -year rate sank 17 base points, at 9.78%, its largest fall since November last year; While 20 -year -old papers
With information from Reuters, Investing.com and Francisco Rivera
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