Peso retreats, awaits Fed meeting; BMV moves forward

The peso fell this Monday in view of the first meeting of the year of the United States (US) Federal Reserve, while the Mexican Stock Exchange (BMV) advanced.

The peso was trading at 17.2026 units per dollar, down 0.28% compared to the reference value. reuters On Friday, the streak of three consecutive days of gains was broken.

“The market is focused on Wednesday’s Fed meeting,” CIBanco said in an analysis note.

“Investors will be paying attention to when the first interest rate cut may occur,” he said.

The main stock index S&P/BMV IPC, which ranks among the 35 most liquid companies in the Mexican market, rose 0.56 percent to 57,175.73 points as the market eyed fourth-quarter corporate results season.

Shares of miner Industrias Penoles led the way, rising 7.21 percent to 238.66 pesos, followed by retailer Chedroui, which rose 3.57 percent to 111.44 pesos. with information from reuters,

Follow information about business and current events in Forbes Mexico

Do you like to get information through Google News? Follow our Showcase to get the best stories