Mexico City, Faced with a situation in the Middle East that has become complicated, the exchange and stock markets in Mexico operated on different paths, because while the former has two consecutive sessions of gains against the dollar, the latter accumulated four days of losses.
Thus, the Mexican peso has its best start to its six-year term since Mexico adopted the free floating exchange rate in 1994, with an appreciation of 1.65 percent nominal; The second was with Felipe Calderón of a peso gain of 1.09 percent against the dollar.
In the midst of the start of Claudia Sheinbaum’s government, the Mexican stock market has its worst start of administration, losing 1.53 nominal percent in the first two auction sessions of the new administration.
Although tension prevails among investors, with oil prices continuing to rise, complicating the slowdown in inflation, the national currency has prevailed against a strong dollar internationally.
The Mexican currency registered a daily appreciation of 0.26 percent, equivalent to 5 cents, to close at 19.3662 pesos per spot dollar. The currency accumulated two sessions on the rise, with a gain of 1.65 percent, equivalent to 33 cents.
According to the Bank of Mexico (BdeM), the exchange rate operated between a maximum of 19.5500 units and a minimum of 19.2960 units.
While the Price and Quotations Index of the Mexican Stock Exchange (S&P/BMV IPC) lost 1.01 percent, equivalent to 525.12 integers, to close at 51,674.54 points. Thus, it accumulated four sessions down.
“Investor sentiment could depend on Claudia Sheinbaum’s ability to maintain a stable regulatory environment and address the budget shortfall left by her predecessor. Although its commitment to the autonomy of the central bank can stabilize the peso and support investments in equities, concerns about judicial reform and commercial risks in the United States could increase market volatility,” predict analysts at Pepperstone, an expert broker in international financial markets.
Oil prices rose this Thursday due to fear of an open and widespread conflict in the Middle East.
The President of the United States, Joe Biden, said this Thursday that he was “discussing” with Israel possible Israeli attacks against Iranian oil facilities, as a measure of retaliation for the missiles launched by Tehran against Israeli territory.
Wall Street ended this Thursday with moderate losses. The Dow Jones lost 0.44 percent; the S&P 500 lost 0.17 percent; Nasdaq lost 0.04 percent, after Wednesday’s slightly positive close, and while the market has focused its attention on the Middle East and new economic data.
The falls were led by the Dow Jones, although the S&P 500 also ended in red weighed down by geopolitical tension, as did the Nasdaq, which has contained the decline supported by chip firms such as Nvidia.
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