The Mexican weight and stock market culminated on Friday with accumulated profits in a week of agitation marked by the hesitant decisions of the US government on the imposition of tariffs to Mexico and Canada.
The markets also reacted to comments from the Federal Reserve Chief, Jerome Powell, who said that the US Central Bank will not be hurricated to cut interest rates while waiting for more clarity on the impact of Donald Trump’s administration policies.
The currency quoted at 20,2503 per dollar almost at the end of the operations, with an appreciation of 0.14%, although in the morning he yielded 0.30% after a disappointing report of US employment and local figures that showed a rebound in inflation.
The currency thus added a weekly yield of 1.4%.
The markets suffered strong pressures after the entry into force early on Tuesday of US taxes of 25% to all imports from Mexico and Canada.
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However, a day later an exemption from one month was announced to the automotive sector and later, on Thursday, the products contemplated within the regional TMEC business agreement received the same benefit. In an interview released on Friday Trump insisted on the tariff theme.
“All this generates uncertainty and instability and, without a doubt, is impacting most global financial markets,” said the Cibanco firm in an analysis note.
The last session of the week was also marked by the departure of the Secretary of the Treasury, Rogelio Ramírez de la O, although the news had little impact on the market. It will be replaced by the Undersecretary of Finance, Edgar Amador.
The referential stock index S&P/BMV IPC rose a marginal 0.04% to 52,839.63 points, erasing its losses of almost 1% that came to register in the morning, due to opportunity purchases. In the week it accumulated a return of 0.98%.
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The shares of the Minera Industrias Peñoles led the increases of the day, with 5.24% more at 360.18 pesos, followed by those of the producer of Tequila José Cuervo, which added 3.66% to 19.55 pesos.
In the debt market, the Central Bank reported that it will carry out an extraordinary paper auction on Wednesday in which it seeks to place up to 35,000 million pesos (about 1,725 million dollars) in Certificates of the Treasury (CETES) and Bondes F.
With Reuters information
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