The Mexican peso appreciated on Thursday, trading around 19.50 per dollar, buoyed by a weaker U.S. dollar and growing investor optimism. Meanwhile, the country’s main stock index was on track to notch its seventh consecutive session of gains, as markets closely watched developments in the ongoing U.S.-China tariff negotiations.
Economic data from the United States added to the market’s upbeat mood. While jobless claims rose in line with expectations last week, durable goods orders in March outpaced forecasts, signaling resilience in the U.S. economy.
The peso traded at 19.5660 per dollar, marking a 0.24% gain from Wednesday’s LSEG reference rate. It briefly strengthened to 19.4640—its strongest level since October of last year.
On the domestic front, inflation ticked up during the first half of April, though it remains within the central bank’s target range. This supports expectations that Banxico will continue easing interest rates, especially amid lackluster economic growth largely driven by the global trade slowdown.
Although firms like Citi have suggested Mexico may have entered a technical recession in Q1, President Claudia Sheinbaum dismissed concerns of an economic contraction during comments on Thursday. Official GDP figures for the first quarter are expected next week.
On the equity front, the S&P/BMV IPC index rose 1.16% to 56,412.09 points, bringing its seven-session gain to 9.5%. The index now hovers near its highest level since May.
Among top performers, Gentera (GENTERA.MX) surged 5.98% to 36 pesos after reporting a strong first-quarter performance.
Alfaa (ALFAA.MX)—the company formerly part of conglomerate Alfa and now focused on the food sector—also posted impressive gains, rising 5.75% to 14.16 pesos following its own quarterly earnings release.
