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Mexico Metropolis. Pending the end result of the financial coverage of the Financial institution of Mexico (BdeM), the Mexican peso stays beneath strain, even supposing the greenback is dropping its worldwide enchantment.

A few hours in the past, Inegi revealed that inflation in Mexico rose 0.20 p.c month-to-month in April, barely above the 0.18 anticipated by the consensus of analysts. With this variation, annual inflation rose from 4.42 to 4.63 p.c, whereas core inflation fell from 4.55 to 4.37 p.c.

Thus, given this situation, the Financial institution of Mexico is predicted to take care of the present degree of rates of interest, at 11 p.c, however there are voices available in the market that counsel that there must be a lower in the price of credit score.

On the opening of the American markets, the Mexican peso depreciated 0.19 p.c, to be quoted at round 16.9265 models per greenback.

Buyers are analyzing the info on the quantity of people that utilized for unemployment insurance coverage in the USA, which elevated from 22,000 to 231,000 within the week ending Could 4. It’s the highest determine since August 2023 and is properly above market expectations of 212 thousand.

“The excessive studying stopped the four-week streak during which the info was beneath expectations, which factors to a weakening of the labor market and helps the argument that the Federal Reserve might anticipate the gradual rest of its financial coverage ”defined Janneth Quiroz, director of financial evaluation, trade fee and inventory market at Monex.

Likewise, China reported a better than anticipated enhance in its exports. As well as, the Financial institution of England, with out surprises within the remaining choice, saved rates of interest unchanged, at 5.25 p.c.

The oil market recovers. The barrel of Brent comes out of lows and is near 84 {dollars}, working with a achieve of 0.45 p.c, at 83.95 {dollars} per barrel; The value of the West Texas sort barrel, the benchmark in the USA, is approaching the extent of 80 {dollars} in its comeback, with an advance of 0.61 p.c, to 79.48 {dollars}.

The most recent messages launched from the Federal Reserve (Fed) maintain debt rates of interest near their most. The required yield on the 10-year US bond is round 4.503 p.c.

Wall Road operates blended, however with a extra constructive habits, because the Dow Jones and the S&P 500 achieve 0.26 and 0.11 p.c, respectively; whereas the Nasdaq misplaced 0.03 p.c.

The Mexican Inventory Alternate (BMV) operates with a slight achieve of 0.03 p.c, at 57,094 factors.

Mexico City. On the last day of the month, the exchange rate and the Mexican Stock Exchange (BMV) began the session negatively, this in a context in which the growth estimate for the first quarter of 2024 was published in Mexico and in the United States labor cost data for the same period.

According to market data, the Mexican peso began the session with a depreciation of 0.24 percent or 4 cents, trading around 17.05 units per dollar.

According to analysts, the depreciation of the peso is due to the publication in the United States of labor costs for the first quarter, prepared by the Bureau of Labor Statistics and which showed a quarterly growth of 1.2 percent, accelerating from 0.9 percent in the fourth quarter of 2023.

The dollar gained strength with its publication, advancing 0.23 percent according to the weighted index, as the increase in labor costs implies greater upward pressures for inflation in the United States.

The market is awaiting the Federal Reserve’s monetary policy announcement scheduled for tomorrow at 12:00 p.m., where no changes to the interest rate are anticipated, but the comments of Fed President Jerome Powell will be relevant.

In the capital market, a mixed performance is observed among the main global stock indices.

The Mexican Stock Exchange opened with a fall of 0.32 percent, while in the Asian session, the Japanese Nikkei gained 1.24 percent and the Hang Seng showed an advance of 0.09 percent, linking seven consecutive sessions to the rise, something that has not It occurred from the period between February 5 to 17, 2021.

In Europe, the STOXX 600 shows a fall of 0.39 percent, the French CAC 40 loses 0.48 percent, the German DAX falls 0.63 percent, while London’s FTSE 100 shows a gain of 0.35 percent. In the United States, the Dow Jones fell 0.47 percent, the Nasdaq lost 0.22 percent and the S&P 500 recorded a loss of 0.21 percent.