The peso closed at 20.2610 per dollar, with a gain of 0.55% compared to the LSEG reference price on Thursday, and during the week it added an appreciation of 2.5%, its best performance since the beginning of September.
The currency and the BMV advanced this Friday and capped a week of accumulated gains, after US President Donald Trump stated in an interview that he would prefer not to have to impose tariffs on imports from China.
The president’s comments to the Fox News network were interpreted by investors as a sign that he would be softening the trade stance of his administration, whose tariff threats also directed at Mexico have caused strong volatility in the markets in recent days.
“The absence of concrete tariff measures has generated a ‘wait and see’ posture among investors, suggesting a possible moderation in the US trade agenda,” said Quásar Elizundia, market research strategist at Pepperstone. .
Following his return to the White House on Monday, Trump has proposed imposing tariffs of 25% on Mexico and Canada and 10% on China starting February 1. He also promised to tax European imports. However, so far he has not offered details about his plans.
Even so, analysts expect that the issue will continue to cause concern in the markets of Mexico, whose productive activity is strongly oriented towards its northern neighbor.
In Mexico, the session was also marked by a report with mixed signals on economic activity in November, ahead of the publication next week of the timely GDP figures for the fourth quarter of 2024.
Read: Peso outlines week of gains after Trump’s comments on tariffs
The IGAE, an indicator that measures the monthly evolution of the economy, expanded 0.4% compared to the previous month, its biggest advance since July and exceeding market forecasts. However, the year-on-year rate moderated more than expected to 0.5%.
BMV has the best weekly performance since the beginning of December
The benchmark S&P/BMV IPC stock index rose 0.59% to 51,357.31 points, with a weekly return of 2.84%, its best performance since the beginning of December, in a market with its sights set on the quarterly corporate results season.
The titles of Gentera, specialized in credit services, led the increases, with 4.39% more to 27.82 pesos, followed by those of the retailer La Comer, which added 3.82% to 33.99 pesos.
Regarding the debt market, the central bank announced that it will offer up to 25,000 million pesos (1,235 million dollars) in an extraordinary auction of Treasury Certificates (Cetes) and Bondes F, which will take place next Wednesday
With information from Reuters
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