The weight rose this Friday, one day after the Central Bank cut the referential interest rate as expected, and after that inflation data in the United States would also be in line with what was expected, which also prompted the Mexican Stock Exchange to close near its maximums.
Banxico reported Thursday that he reduced his key interest rate at 25 basic points, as expected by the market, to take it to 7.5% and said forward will value additional cuts.
On Friday, meanwhile, it was known that the expenditure of American consumers increased more than expected in August, while inflation continues to rise at a moderate pace. The Personal Consumer Expenses Index (PCE) increased 0.3% in August, after winning 0.2% in July. In the 12 months until August, the PCE price index advanced 2.7% after rising 2.6% in July.
According to operators, the data would give space to the Federal Reserve to continue its monetary relaxation after cutting interest rates at 25 basic points last week.
In addition, also on the day, INEGI reported that Mexico registered a surplus of 609 million dollars in the desestationalized trade balance of August. The balance not adjusted by seasonality recorded a deficit of 1,944 million dollars.
The currency quoted near the closure of businesses in 18,3675, with an increase of 0.54% compared to LSE’s reference price on Thursday.
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“The appreciation of the peso is due to a decline of the dollar … This happens after the United States publication of the United States Personal Consumption Price Index (PCE deflature), the preferred data to monitor inflation by the Federal Reserve. In August, the PCE showed a monthly increase of 0.26%, in line with the market expectation,” said Grupo Financiero Base.
Meanwhile, the referential share index S&P/BMV IPC preliminary preliminary 0.58%, at 62,307.07 points, quoting near its historical closing maximums.
The titles of the Pharmaceutical Genomma Lab International climbed 4.61% to 18.84 pesos, while those of the Banorte Financial Group added 3.08% to 180.57 pesos.
For fixed income, the Mexican government bonus at 10 years quoted with a yield of 8.55%, compared to 8.52% of the previous closure, while the debt at 20 years offered a return of 9.21%, which compares with 9.18% of the previous session.
The Ministry of Finance announced on Friday the scheduled auction calendar of debt titles for the fourth quarter of 2025.
With Reuters information.
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