Mexico City. On the last day of October, the Mexican peso broke its streak of five consecutive losses against the dollar, registering a daily appreciation of 0.79 percent, equivalent to 15.86 cents, to close at 20.0109 pesos per dollar. spot.
The national currency partially recovered (two-fifths) of its losses of close to 1.75 percent in five sessions.
According to data from the Bank of Mexico, the exchange rate operated between a maximum of 20.0750 units and a minimum of 19.9900 units.
However, the national currency lost 1.6 percent during the tenth month of 2024; since it accumulated a loss of 12.97 percent so far this year.
The weakness of the dollar was accompanying the Mexican peso in a volatile session, where the markets expect two unknowns to be cleared up next week, the United States elections and the seventh monetary policy meeting of the Federal Reserve (Fed) this year. .
The dollar index, which measures the behavior of the US currency against a basket of six international currencies, fell 0.05 percent to 103,807 units.
For its part, the main Mexican stock index ended the last day of October with a drop of 0.42 percent, to close at 50,661.05 units. In October it lost 3.49 percent and during the year it plummeted 11.74 percent nominally.
The brake on the ‘disinflation’ process has extended to the Fed’s preferred US inflation indicator, the underlying private consumption deflator. The figure has remained at 2.7 percent, one tenth above the 2.6 percent that analysts had anticipated.
The new inflation benchmarks are closely monitored for their effects on the interest rate cuts initiated by central banks. The latest macro data and doubts about fiscal policies after the United States elections have softened the rate cuts expected by the market, with the consequent rise in debt interests. The yield on the 10-year US bond is around 4.284 percent.
The Nasdaq led a drop in US stocks on Thursday after gains from Meta and Microsoft sparked concerns about the outlook for Big Tech amid rising costs of artificial intelligence.
The high-tech Nasdaq sank 281 percent, to 18,085.86 points; while the S&P 500 fell almost 1.86 percent, to 5,705.45 units, as both indices ended the month slightly in the red. The Dow Jones Industrial Average, which fell 0.90 percent to 41,763.46 points, also had a monthly loss.
Initial jobless claims decreased by 12,000 to a five-month low of 216,000, compared to estimates of 230,000. Investors were paying close attention to the data after an October surge in private payrolls dampened the outlook ahead of Friday’s crucial monthly jobs report.
Oil prices extended their gains for the second consecutive day. WTI crude oil futures rose 3.13 percent to $70.76 a barrel after the close, and Brent futures for January delivery rose 2.91 percent to $74.26.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘
fbq(‘init’, ‘133913093805922’);
fbq(‘track’, ‘PageView’);
fbq(‘track’, ‘Contact’);
fbq(‘track’, ‘Donate’);
fbq(‘track’, ‘FindLocation’);
fbq(‘track’, ‘Lead’);
fbq(‘track’, ‘Search’);
fbq(‘track’, ‘Subscribe’, {value: ‘0.00’, currency: ‘MXN’, predicted_ltv: ‘0.00’});
fbq(‘track’, ‘ViewContent’);
#Mexican #peso #breaks #negative #streak
–
