Mexican Peso Declines for Second Consecutive Session

The Mexican peso declined against the U.S. dollar on Thursday, marking its second consecutive day of losses.

The currency’s depreciation reflects a cautious market, with attention focused on developments surrounding U.S. President-elect Donald Trump.

The spot exchange rate stands at 20.3513 pesos per dollar, down from Wednesday’s official closing level of 20.3223 pesos, according to the Bank of Mexico (Banxico). This represents a decline of 2.90 cents or 0.14%.

The dollar has been trading within a range, hitting a high of 20.4070 pesos and a low of 20.2619 pesos. Meanwhile, the U.S. Dollar Index (DXY), which measures the greenback against six major currencies, dipped 0.04% to 106.64 points.

Markets remain focused on potential policies from President-elect Trump and their economic implications. Additionally, the peso’s weakness follows news of a Russian intercontinental ballistic missile strike on Ukraine, further unsettling markets.

In the U.S., economic data showed an unexpected drop in weekly jobless claims and a weaker-than-anticipated manufacturing activity report, adding to global uncertainties.

Local Data

On the domestic front, retail sales in Mexico rose for the third consecutive month in September. According to data from INEGI, retail sales edged up by 0.1% compared to the previous month, signaling some resilience in local consumer activity.

Also today, the Mexican stock markets are trading higher on Thursday morning. Markets are rebounding after eight consecutive sessions of losses. Investors remain focused on developments in U.S. political policy, which continue to influence market sentiment.

The benchmark index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which tracks the most actively traded local stocks, has risen by 0.11% to 50,225.21 points. Meanwhile, the FTSE BIVA, the main index of the Institutional Stock Exchange (Biva), is up 0.13% to 1,026.97 points.