Mexico City (Reuters) – The peso was appreciated this Friday before a global decline of the dollar, while the Mexican Stock Exchange retreated after three profit sessions, which culminated a week of accumulated losses.
The progress of the peso in the session was partly attributed to comments from the governor of the Federal Reserve (FED) Christopher Waller, who said on the eve that he continues to believe that the US central bank should cut this month the interest rates.
The peso quoted in 18,7263 per dollar almost at the end of the businesses, with a gain of 0.15%. However, he accumulates a weekly setback of 0.55% before the nervousness that left versions that the chief of the Fed, Jerome Powell, would be fired soon, although they were denied.
“After the end of the controversy about a possible dismissal of Powell, the market is concentrated again on the monetary policy decision of the end of the month,” said Financiero Actinver in a report.
At the local level, the session was marked by the publication of figures that showed that Mexico’s economy would have grown in June, which was well received by analysts who have been warning about the weak performance of the gross domestic product for months.
“Estimates point to a possible economic reactivation, with increases in the two main groups of activities (secondary and tertiary),” said Monex Financiero.
Awarded bets due to an appreciation of the peso decreased for the second consecutive week in the Chicago Mercantile Exchange, however the speculative positions remained in favor of the Mexican currency.
The referential shareholding index S&P/BMV IPC fell 0.78% to 56,273.45 points, with an accumulated weekly decline of 0.57%, in a market attentive to the season of corporate results of the second quarter.
The titles of the Regional Bank headed the losses of Friday, with 3.89% less than 140.88 pesos, followed by those of the CEMEX cement, which reduced 2.20% to 14.23 pesos.
In the secondary debt market, 10 -year bonus yield culminated without changes against its previous closure by 9.44%, while the 20 -year rate fell 14 base points, to 9.90%.
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