Mexico City, June 26 (reuters) – The Mexican peso depreciated on Wednesday in line with its peers in the region, amid a global strengthening of the dollar, while investors await the release later in the week of inflation data in the states. united that will be key to determining the next steps of the federal reserve.
At the local level, attention is focused on the announcement of monetary policy by Banco de México, on Thursday, and the appointment of more members of the cabinet of the president-elect, Claudia Sheinbaum, on the same day, in search of new clues about the direction of his administration.
* The currency was trading at 18.3362 units almost at the end of business, with a decline of 1.34%, although shortly before it lost 1.65% after Sheinbaum once again referred to journalists before journalists about the high public deficit and the controversial official plans to reform the judicial power.
* “Local nervousness remains due to the political and reform issue, which is combined with the strengthening of the dollar worldwide,” said Jacobo Rodríguez, financial specialist at the analysis firm Roga Capital. “The local issue has increased the sensitivity of the Mexican peso,” he added.
* In a press conference, Sheinbaum also said that in his government, which begins in October, he will continue to promote strong increases in the minimum wage, as well as social programs, but without neglecting inflation or public finances.
* The peso has accumulated a decline of 7.9% since the June 2 elections, given the overwhelming victory of the ruling party and its allies that opened the door to rapid approval of changes to the justice system, among other reforms, in the next Congress , which begins sessions in September.
* The benchmark S&P/BMV IPC stock index fell 0.26% to 52,468.01 points, with a volume of 298.6 million shares traded, above the daily average of 200 million in recent months.
* The shares of the airport operator GAP led the decline, with 2.70% less to 280.87 pesos, followed by those of the pharmaceutical company Genomma Lab, which fell 2.21% to 16.84 pesos.
* In the debt market, the 10-year bond yield rose four basis points to 9.94%, the same as the 20-year rate, which stood at 10.09%. (Reporting by Noé Torres)
Reuters
