Peso Closes with a Loss of 0.22% Against the Dollar

The peso traded at 20.24 units per dollar near the close of the session on Wednesday, with a loss of 0.22 percent compared to yesterday’s reference price.

The Mexican currency lost after knowing that the local economy expanded in the second quarter slightly below expectations.

Dollar in banks BBVA Mexico: 20.52 pesos Citibanamex: 20.73 pesos Banorte: 20.55 pesos Santander: 20.85 pesos The Gross Domestic Product (GDP) of Mexico showed an expansion of 1.5% at a quarterly rate, according to seasonally adjusted figures released on Wednesday by Inegi, same as preliminary estimate at the end of July, but below the 1.7 percent expected by analysts.

On the other hand, the market remains awaiting the Jackson Hole symposium that begins on Friday, where the participation of the president of the United States Federal Reserve, Jerome Powell, will be key, who could offer clues about the tightening schedule of the central bank policies.

In the debt market, the 10-year bond yield lost two basis points to 7.01 percent.

The Mexican Stock Exchange (BMV) advanced to a new all-time high in the session this Wednesday, while the market waits for announcements about the next steps in the monetary policy of the United States.

The benchmark local stock index S & P / BMV IPC rose 0.69 percent to 52 thousand 345.39 points with a volume of 123.8 million securities traded. In the session, the square reached a historical maximum of 52,381.39 points, surpassing that of the previous day of 52,360.99 points.

The market remains awaiting the Jackson Hole symposium that begins on Friday, where the participation of the president of the United States Federal Reserve (Fed), Jerome Powell, will be key, who could offer clues about the schedule of policy tightening of the central bank.

Wall Street gained ground, with chipmakers and the financial sector helping to propel the S&P 500 and Nasdaq to closing records, as investors wait for the upcoming Jackson Hole seminar to ensure the firm’s tightening schedule. Fed will remain intact.

With few negative catalysts to sour risk appetite, the three major US indices ended the session modestly higher.

The Dow Jones Industrial Average rose 39.24 points, or 0.11 percent, to 35,405.50 points; While the S&P 500 gained 9.96 points, or 0.22 percent, to 4,496.19 units. The Nasdaq added 22,068 points, or 0.15 percent, to 15,041.86 units.