The peso was stable this Friday in a volatile session and after previous increases generated after employment data in the United States, while the Mexican Stock Exchange fell in a breath after four consecutive sessions of advances.
U.S. job growth rebounded in November after being limited by hurricanes and strikes, but is unlikely to signal a material change in weakening labor market conditions, prompting the Federal Reserve to cut again. interest rates this month.
“The results reflect notable resilience of the labor market in the face of the atypical events of the previous month, providing elements about the Fed’s last monetary policy decision of the year, which strengthens the vision of a 25 basis point cut in the interest rate,” he said. Monex.
The dollar stood at 20.1793 pesos at the close, which meant an appreciation of 0.12% for the national currency, according to data from Banxico. With today’s data, the peso had four sessions with gains.
In the weekly accumulated, the peso appreciated 0.89%.
Lee: Peso has its best level since November 19
Monex later added that the market is now focused on inflation data in Mexico due to be released on Monday.
Investors are also awaiting the Banxico meeting on December 19, in which a rate cut is expected.
BMV gives up 0.82%
The benchmark S&P/BMV IPC stock index, meanwhile, lost 0.82% at the preliminary close to 51,331.56 points, after four consecutive sessions of increases that led it to trade at highs in almost a month and accumulate gains of around 3.2% in the week.
Among the declines, the shares of the Alfa conglomerate fell 5.07% towards the close to 15.35 pesos.
The titles of Grupo Aeroportuario Centro Norte (OMA), meanwhile, stood out among the increases with an advance towards the close of 3.61 to 183.61 pesos, after reporting a 9.9% year-on-year increase in total passenger traffic in November, exceeding estimates of analysts.
“Positive results, from our point of view, so we do not rule out a similar short-term behavior in the share price. For the moment, our fundamental recommendation of HOLD with an intrinsic value (IV) estimated at MXN 181.00 remains unchanged,” VectorAnálisis said.
In fixed income, the 10-year Mexican government bond was quoted with a yield of 10.04%, compared to 10.02% at the previous close, while the 20-year debt offered a return of 10.40%, which compares with the 10.27% of the previous session.
With information from Reuters
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