Mexico’s Economic Indicators
Among the economic indicators released in Mexico, the Monthly Indicator of Gross Fixed Capital Formation fell in June, and remittances entered the country in July.
Mexican Stock Market
The Mexican stock exchanges closed the week with new historical highs.
- S&P/BMV IPC: The leading index of the Mexican Stock Exchange (BMV) that groups the most traded local stocks, rose 1.02% to 60,479.76 units.
- FTSE BIVA: The index of the Institutional Securities Exchange (Biva) increased 1.07% to 1,211.44 units.
US Economic Indicators and Stock Market
In international news, in the United States, it was announced on Friday that non-agricultural payrolls increased by only 22,000 jobs in August, far below the expected 75,000 jobs.
The exchange rate ended the day at 18.7143 units per dollar. Compared to a closing rate of 18.7402 units the previous Friday, according to official data from Banco de México (Banxico), this represented a gain of 2.59 centavos, equivalent to 0.14% for the Mexican currency.
In the weekly accumulation, the peso experienced a moderate decline against the greenback. From a record of 18.6615 pesos per dollar on the previous Friday, the price rose 5.28 centavos, equivalent to a variation of 0.28%.
Wall Street Performance
The three major indices on Wall Street ended the trading day with losses. The averages fell after touching earlier highs in a market that received a report on non-agricultural payrolls in the United States below expectations.
- Dow Jones Industrial Average: -0.48% to 45,400.86 points
- S&P 500: -0.32% to 6,481.50 points
- Nasdaq Composite: -0.03% to 21,700.39 points
In the weekly accumulation, the indices showed mixed performances. The Dow Jones lost 0.32%, while the S&P 500 rose 0.33% and the Nasdaq gained 1.14%. Year-to-date, the New York indices have advanced 6.71%, 10.20%, and 12.37%, respectively.
Key Developments to Watch
Following a meeting between Mexico’s President Claudia Sheinbaum and the US Secretary of State, both governments announced the creation of a high-level group that will meet regularly to monitor mutual commitments, including measures to counter drug cartels, strengthen border security, prevent fuel theft, and address illicit financial flows.
US-Mexico Cooperation
During Marco Rubio’s visit to Mexico on the previous Wednesday, both governments reaffirmed their cooperation in security based on principles of reciprocity, respect for sovereignty and territorial integrity, shared and differentiated responsibility, and mutual trust.
Key Questions and Answers
- What are the key economic indicators released in Mexico this week? The Monthly Indicator of Gross Fixed Capital Formation fell in June, and remittances entered the country in July.
- How did Mexico’s stock market perform this week? The Mexican stock exchanges closed the week with new historical highs, with the S&P/BMV IPC rising 1.02% and FTSE BIVA increasing 1.07%.
- What was the performance of Wall Street indices this week? The Dow Jones Industrial Average fell 0.48%, the S&P 500 dropped 0.32%, and the Nasdaq Composite declined 0.03%. However, in the weekly accumulation, the Dow Jones lost 0.32%, the S&P 500 gained 0.33%, and the Nasdaq rose 1.14%.
- What is the significance of the high-level group created by the US and Mexico? This group will regularly meet to monitor mutual commitments, including measures to counter drug cartels, strengthen border security, prevent fuel theft, and address illicit financial flows.
