Mexican peso falls again; breaks the 18 per dollar barrier

The Mexican peso weakened on Thursday, a day ahead of an expected jobs report in the United States that will provide new clues about whether the world’s largest economy is strong enough for the Federal Reserve to keep raising interest rates.

The national currency was quoted at 18.08 per dollar.with a loss of 0.76% compared to the base price Reuters on Wednesday.

“He negative market sentiment “The situation does not appear to change until it is clear that there will be no more interest rate hikes, especially from the Fed,” local firm CIBanco said in a research note.

So far this morning, it was announced that the number of Americans filing new subsidy applications. unemployment increased moderately last week.

The exchange rate could fluctuate between 17.96 and 18.13 pesos per dollar for the rest of the session, according to analysts at Banco Base.

From my side, Mexican Stock Exchange fell on Thursday, caused by the collapse of three major stocks airport operators country after he was informed the day before that the local civil aviation authority had decided to change the basis of tariff regulation.

He benchmark index S&P/BMV IPC It lost 3.11% to 49,154.07 points, having recently lost more than 4%, the worst performance among its major peers overseas and pointing to its biggest daily drop since June 2020, when fears weighed on the market regarding the coronavirus pandemic.

Shares in the OMA airport group fell 25.6% and Pacific group of airports fell by 23%, and Southeastern Airport Group (Asur) fell 18.4%, forcing the stock market to briefly pause negotiations.

Source: Aristegui Noticias

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