The weight was appreciated 4%, its best monthly performance since the late 2021.
The currency depreciated this Wednesday dragged by a global strengthening of the dollar after a report showed that the US economy contracted in the first quarter.
The GDP of the world’s largest economy fell 0.3% annualized in the quarter, affected by an increase in imports before the implementation of tariffs by Donald Trump’s administration on most products.
The peso quoted in 19,6216 per dollar almost at the end of the businesses, with a depreciation of 0.38% compared to the LSE reference price on Tuesday.
“The weight was affected by the systemic nervousness of the weak American economic growth, considering that they increase the fears of a possible stagflation in the United States,” said Monex Financiero Group in an analysis note.
Lee: Mexican economy was moderated by Trump: Treasury
“Towards the ‘overnight’, we would expect the weight to oscillate in a range between 19.54 and 19.70, affected by the feeling of risk aversion and considering that tomorrow (Thursday) will be holiday in Mexico,” he added.
In Mexico, he highlighted a better report to the expected GDP of the first quarter, which unexpectedly rose against the previous period avoiding a dreaded technical recession, although analysts agreed that the performance of the Mexican economy remained modest.
“In particular, the weakness of important components of domestic demand, such as construction, trade and services,” said Invex Grupo Financiero.
BMV has better monthly performance since November 2023
Throughout April, the stock market accumulated a 7.19%yield, its highest monthly gain since November 2023.
The referential stock index S&P/BMV IPC rose 1.16% to 56,259.28 points, after falling 2.4% on the previous day, in a market also with the attention set on the last day of the local season of corporate results of the first quarter.
The increases were led by the Walmart actions of Mexico, with 4.07% more than 62.15 pesos, after the quarterly report published on the eve.
Lee: Analysts expect that Mexico free technical recession in the first quarter
In the secondary debt market, the 10 -year bonus yield rose two base points to 9.32%, while the 20 -year -old rate amounted to 9.93%.
With Reuters information
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