Mexico City. In the midst of the decision of the United States Federal Reserve (Fed) to cut its reference rate by half a percentage point and in the face of risk aversion with respect to Mexico, the Mexican peso tried to maintain its winning streak, but in the end it deflated .
The Mexican currency registered a daily depreciation of 0.81 percent, to close at 19.2941 pesos per spot dollar, which ended four consecutive rising sessions.
According to data from the Bank of Mexico (BdeM), the exchange rate operated between a maximum of 19.3890 units and a minimum of 19.1530 units.
La Fed has decided to begin the decline in interest rates with a bang and left the price of money in the range between 4.75 and 5 percent, after days of speculation in which the financial markets debated between 0.25 and 0.50 percentage points as the first decrease.
The Base analysis area highlighted that It is circulating in the media that Rogelio Ramírez de la O, Secretary of the Treasury, could leave his position after the presentation of the 2025 Economic Package, which has a deadline of November 15. “If this is the case, risk aversion could increase, since the market is waiting for the Ministry of Finance to consolidate public finances next year, reducing the budget deficit from an estimated 5 percent of GDP in 2024.”
Meanwhile, the dollar index, which measures the behavior of the dollar against a basket of six international currencies, showed a recovery of 0.06 percent, to close at 100,625 units.
Stocks on Wall Street closed modestly lower on Wednesday after the Federal Reserve ended days of speculation about the magnitude of the move.
The main US stock indices entered and left positive territory after the Federal Reserve’s decision: the S&P 500 lost 0.29 percent, to 5,618.26 points; The Dow Jones index fell 0.25 percent, to 41,503.10 points, and the Nasdaq fell 0.3 percent, to 17,575.67 points.
For its part, the Mexican Stock Exchange (BMV) advanced 0.59 percent, to close at 52,582.89 points.
Oil limited its losses on Wednesday after remaining in the red for almost the entire session, helped by the interest rate cut decided by the Federal Reserve.
The price of a barrel of North Sea Brent for delivery in November fell a marginal 0.07 percent, to $73.65. The barrel of West Texas Intermediate (WTI) for delivery in October fell 0.39 percent, to $70.91.
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– 2024-09-30 08:56:33
