Mexico Macro Daily(Beta Mode)
Mexican Confidence Slips, Stocks Gain
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| IPC Bolsa | 69,702.02 | +1.59% |
| USD/MXN | 17.94 | +0.30% |
| EUR/MXN | 20.66 | -0.16% |
| WTI Crude | 109.42 | +9.29% |
| Silver | 70.62 | -6.92% |
| Gold | 4,631.50 | -3.17% |
| Brent Crude | 109.15 | +7.90% |
| Bitcoin | 66,188.55 | -2.78% |
| Mexico Short-term Rate | 5.56% | -1.24% |
| Mexico Long-term Rate | - | - |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| Business Confidence Index | 48.30 | - | 47.80 |
Mexico Long-term Rates | Type: macro_line | Long-term Rate %: 8.74 (2026-02-01) | Range: 6.54–10.43 | Trend(5pt): 6.54,9.1,9.39,9.85,8.74
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- Mexico's Business Confidence Index fell to 47.8, signaling caution amid fiscal and trade risks.
- IPC Bolsa rose 1.59% to 69,702.02, lifted by energy sector amid oil surge.
- USD/MXN climbed 0.30% to 17.94 on dollar strength and commodity volatility.
Yesterday's Recap
Mexico's Business Confidence Index declined to 47.8 from 48.3 prior, underscoring worries over trade tensions and fiscal policies. The IPC Bolsa advanced 1.59% to 69,702.02, supported by energy stocks as WTI Crude jumped 9.29% to 109.42. USD/MXN increased 0.30% to 17.94, with the peso facing pressure from global dollar gains and oil fluctuations.
EUR/MXN fell 0.16% to 20.66, aided by euro resilience. Mexico Short-term Rate decreased 1.24% to 5.56%, suggesting slight easing in short-term funding. Silver dropped 6.92% to 70.62, and Gold slipped 3.17% to 4,631.50, amid risk aversion.
Brent Crude rose 7.90% to 109.15, while Bitcoin declined 2.78% to 66,188.55. Markets showed resilience in equities but sensitivity in currencies to external factors.
The Day Ahead
No key economic releases are scheduled today, shifting focus to reactions from yesterday's softer confidence data and its impact on investment sentiment. Traders will watch for developments in Mexico's 2027 budget outlook, projecting a reduced deficit and higher growth despite expanded spending under President Sheinbaum. US tariff threats and USMCA talks may affect peso movements.
Global oil trends remain in view after yesterday's sharp gains in WTI and Brent. Any impromptu Banxico remarks on inflation could influence expectations. A light calendar might heighten responses to international headlines.
Other Economic Notes
Mexico's administration anticipates a tighter budget deficit in 2027, balancing increased public outlays with growth targets under Sheinbaum's leadership. Nearshoring supports remittances and foreign investment, but US-China trade frictions, including tariffs targeting Mexico, threaten supply chains. Energy policy shifts favoring Pemex raise investor concerns, potentially limiting capital inflows.
Broader Latin American relations face US pressures, as seen in tariff warnings and shifting trade dynamics.
