Puerto Vallarta, Mexico – The Mexican peso fell at the opening of trading on Tuesday, January 7, 2025, diverging from the upward performance of major Latin American currencies and stock markets. This movement follows a day of strong gains, as investors await the release of key economic data from the United States later in the day.
The peso was trading at 20.3358 per dollar, reflecting a 0.18% decline from Monday’s LSEG reference price of 20.3000 units. Despite this dip, Monday marked the peso’s most significant daily advance since mid-September, appreciating by nearly 2%. This boost was driven by reports that former U.S. President Donald Trump’s advisors were considering sector-specific tariff plans aimed at critical industries. However, Trump later denied these reports, dampening investor enthusiasm.
Investor attention remains focused on the imminent release of the U.S. Job Openings and Labor Turnover Survey (JOLTS) and the Institute for Supply Management (ISM) services index for December. These figures are expected to provide further insight into the health of the U.S. economy.
Stock Market Performance
The Mexican Stock Exchange (BMV) extended its upward trend on Tuesday morning, buoyed by investor optimism and awaiting fresh U.S. economic data. The S&P/BMV IPC index, which tracks the most traded stocks in the domestic market, climbed 0.69% to 49,836.70 points. This follows a 1.1% rise recorded on Monday.
Leading the gains were shares of mining giant Industrias Peñoles, which surged 2.45% to 281.98 pesos. Close behind were shares of airport operator Grupo Aeroportuario del Centro Norte (OMA), rising 2.25% to 187.00 pesos.
As markets navigate fluctuating currency values and economic indicators, attention remains fixed on developments in the U.S., with traders poised to adjust strategies based on the latest data releases.
