The weight advanced marginally this Friday, after knowing the employment data in the United States, better than expected, relieving part of the anxiety for tariffs imposed by Donald Trump, while the BMV retreated in its first May session, after closing April with accumulated profits.
After Thursday’s pause for Labor Day, investors were also aware of the survey of analysts from the private sector of the Bank of Mexico (Banxico), who lowered their expectation of expansion of the gross domestic product (GDP) by 2025 to 0.20% from a previous 0.50%.
On Wednesday, INEGI had reported that the Mexican economy grew an unexpected 0.2% in the first quarter of the year, discarding the technical recession anticipated by specialists after the contraction of the last quarter of 2024.
The peso closed its price at 19,5832 per dollar, with an appreciation of 0.06% compared to the LSE reference price on Wednesday, although showing one of the worst behaviors within a basket of emerging currencies favored by the weakness of the dollar index.
“There is talk of the existence of some operations in Asia that include the Mexican weight and indicating sales of weights with outputs of ‘investments or bets’ in favor of our currency,” said Intercam Casa de Bolsa in a client note.
Lee: American federal employment falls again while Doge’s cuts accumulate
To this uncertain panorama was added the data of the manufacturing orders indicator in April in the country, which presented a monthly decrease of 1.0 point and was located in 50.9 points.
In the United States, the payroll report showed that employers added 177,000 new jobs last month, exceeding the expectations that the indicator had decelerated to 130,000 and subtracting reasons from the Central Bank of the US to hurry to lower the rates.
At the local level, Banxico released the March remittance report, which increased 2.7% compared to the same month of the previous year to add 5,150 million dollars, thus closing the first quarter with an annual rise of 1.3%.
In Banxico survey, private sector analysts slightly rose the inflation perspective by 2025 to 3.8% from the previous 3.7%, and now they expect the interbank anchor rate to end the year by 7.75% from a previous 8%.
“The growing concern and attention focused on the weakness of economic activity give the Central Bank the confidence to accelerate the rhythm of standardization of monetary policy (provided that the MXN is not significantly weaken),” said Goldman Sachs.
Bag yields 0.77%
The referential stock index S&P/BMV IPC .MXX fell 0.77% to 55,824.28 points, after climbing 1.16% in the previous day, which ended the local season of corporate results of the first quarter.
“In Mexico, the 1T25 corporate report season has concluded, of which 20.0% presented better results to the estimated, 48.6% were online and 31.4% below the estimated,” Monex said.
The companies that lost the most, according to preliminary closing data, were the FEMSA retailer and bottling machine, with 3.91% less than 198.31 pesos, and Grupo Financiero Banorte, with a decrease of 2.88% to 163.66 pesos.
Lee: The remittances to Mexico dodge Trump’s policies; 1.3% rise in the first quarter
The media giant Televisa registered a decline of 2.66% to 6.95 pesos, prolonging the losses of the previous session after a weak quarterly report.
In the secondary debt market, the 10 -year bonus yield mx10yt = RR rose 11 base points to 9.43%, while the 20 -year rate mx20yt = RR ascended 14, to 10.07%.
With Reuters information
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