Mexico City. On the last day of the month, the exchange rate and the Mexican Stock Exchange (BMV) began the session negatively, this in a context in which the growth estimate for the first quarter of 2024 was published in Mexico and in the United States labor cost data for the same period.
According to market data, the Mexican peso began the session with a depreciation of 0.24 percent or 4 cents, trading around 17.05 units per dollar.
According to analysts, the depreciation of the peso is due to the publication in the United States of labor costs for the first quarter, prepared by the Bureau of Labor Statistics and which showed a quarterly growth of 1.2 percent, accelerating from 0.9 percent in the fourth quarter of 2023.
The dollar gained strength with its publication, advancing 0.23 percent according to the weighted index, as the increase in labor costs implies greater upward pressures for inflation in the United States.
The market is awaiting the Federal Reserve’s monetary policy announcement scheduled for tomorrow at 12:00 p.m., where no changes to the interest rate are anticipated, but the comments of Fed President Jerome Powell will be relevant.
In the capital market, a mixed performance is observed among the main global stock indices.
The Mexican Stock Exchange opened with a fall of 0.32 percent, while in the Asian session, the Japanese Nikkei gained 1.24 percent and the Hang Seng showed an advance of 0.09 percent, linking seven consecutive sessions to the rise, something that has not It occurred from the period between February 5 to 17, 2021.
In Europe, the STOXX 600 shows a fall of 0.39 percent, the French CAC 40 loses 0.48 percent, the German DAX falls 0.63 percent, while London’s FTSE 100 shows a gain of 0.35 percent. In the United States, the Dow Jones fell 0.47 percent, the Nasdaq lost 0.22 percent and the S&P 500 recorded a loss of 0.21 percent.
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– 2024-05-06 13:02:14
