There is exchange volatility while waiting for the economic package

Given the position of the United States Federal Reserve (Fed), which is in no hurry to lower its interest rate, and given the decision of the Bank of Mexico (BdeM) to cut its reference rate this Thursday, the peso closed with a gain of 8 cents, at 20.4261 units per dollar spot.

The market had already discounted the monetary movement of the BdeM to raise the reference rate to 10.25 percent, so the Mexican currency registered an appreciation of 0.43 percent.

After the closure in Mexico, Moody’s announced that it changed the outlook for Mexico’s credit rating to negative, to which the exchange rate reacted with levels of 20.5005 per dollar in international markets, since the Mexican currency operates 24 hours a day.

Meanwhile, Jerome Powell, president of the Fed, declared this Thursday that the monetary authority is in no hurry to continue with its rate movements, given the strength of the economy of the United States, Mexico’s main trading partner, and that the trajectory of Inflation would have to be carefully measured to reach the 2 percent target.

A few hours after the presentation of the 2025 economic package, the first by President Claudia Sheinbaum, with which economic agents will evaluate both the income and expenses proposed for the following year, as well as the viability and how to avoid fiscal pressures, the exchange rate maintained its high volatility.

The DXY index, which measures the behavior of the dollar against a basket of six international currencies, appreciated 0.39 percent, to 106,795 units, levels not seen in a year.

The Mexican stock market is experiencing a different panorama, which has been down for five consecutive days, making it the worst market, measured in dollars, worldwide so far this year. The Mexican Stock Exchange fell 0.38 percent this Thursday, to 50,553.31 points.