Markets in Mexico fell due to rising prices economic downturn fears and in conditions that could worsen for risky assets, accumulating losses over a week shortened by the religious holidays of Good Thursday and Good Friday.
Both the currency and the stock market lost more than 1% on the day and closed the week with a fall, which in the case of the local currency was about 1.5%.
The Mexican peso traded on 18.3042 pesos almost at the end of the working day, with 1.03% depreciation compared to Tuesday’s Reuters benchmark price ahead of the release of US labor market data on Friday.
“If the U.S. jobs report on Friday disappoints investors Speculation about a recession will grow. This will increase risk aversion, which will shift investment portfolios towards safe-haven assets, leading to a depreciation of the Mexican peso,” said Gabriela Siller, Head of Research at Banco Base.
“Given this, it is possible to reach a level close to 18.70 pesos per dollar.”
At the moment the numbers are published in the morning recession fears have resurfaced and took investors away from risk. hiring US businessmen and data from the service sector did not live up to expectations.
“The mood that exists, or the perception in the markets among investors and operators, is once again renewed fears of a recession around the world, and in particular in the United States,” said James Salazar, associate director of economic analysis at CI Banco.
The leading index of the Mexican Stock Exchange (S&P/BMV IPC), which brings together the 35 most traded stocks in the domestic market, recorded a decrease of 1.25% to 53,498.39 points closer to the close, with a close weekly decline to 1%.
Titles of Volaris airline and Pinfra, operator of automobile and port projects AndThey led the decline with a decline of about 3.5%.
In the debt market, the yield on 10-year bonds rose by three basis points to 8.85%, and 20-year bonds – by one to 8.97%.
Source: Aristegui Noticias

Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.