The Mexican peso fell on Wednesday amid a global strength in the dollar, while investors await the later release of minutes from the Federal Reserve’s latest meeting for clues about an upcoming interest rate cut.
The national currency was quoted at 17.05 units.with depreciation of 0.22% compared to the base price Reuters on Tuesday, combining for a fifth straight day of losses.
“Investors are enjoying some gains after earnings by the end of 2023 and, in turn, continue to consider the next steps they should take in terms of money-credit policy“CIBanco said in a research note.
Investors’ minds were also weighed down by the increase tensions in the Middle EastAfter Israel killed Hamas deputy leader Saleh al-Arouri in a drone strike in Beirut, the Lebanese capital.
According to Banco Base analysts, the peso is expected to fluctuate between 17.00 and 17.12 per dollar until the end of the session.
Mexican Stock Exchange The index fell for a fifth straight day on Wednesday as investors await the later release of minutes from the Federal Reserve’s latest meeting for clues about an upcoming interest rate cut.
He leading S&P/BMV IPC indexShares of the company, which groups the most traded stocks in the domestic market, lost 0.60% to 56,639.04 points shortly after opening.
Media giant titles Televisa Group led the decline, down 2.53% to P11.17, followed by mining stocks. Peñoles Industrieswhich decreased by 1.28% to 245 pesos.
Reuters
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.
