Mexico Macro Daily(Beta Mode)
Peso Weakens, Bonds Rally
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| IPC Bolsa | 68,836.92 | +0.04% |
| USD/MXN | 17.36 | +0.21% |
| EUR/MXN | 20.29 | -0.22% |
| WTI Crude | 93.56 | +0.65% |
| Silver | 75.28 | -3.35% |
| Gold | 4,722.90 | -0.20% |
| Brent Crude | 97.08 | -4.74% |
| Bitcoin | 77,734.35 | -0.60% |
| Mexico Short-term Rate | 5.52% | -0.72% |
| Mexico Long-term Rate | 8.74% | -5.10% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Mexico Long-Term Rates | Type: macro_line | %: 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 | |||
- Mexican markets mixed: IPC edges up, peso softens on oil volatility.
- Bond yields fall sharply amid eased trade tensions.
- Tourism surges offset by security concerns.
Yesterday's Recap
Mexican markets displayed mixed results, with the IPC Bolsa index rising 0.04% to 68,836.92, buoyed by selective sector gains despite overall caution. The USD/MXN rate increased 0.21% to 17.36, driven by dollar firmness and oil market swings impacting emerging currencies. EUR/MXN fell 0.22% to 20.29, providing minor relief from eurozone steadiness.
Mexico's short-term rate decreased 0.72% to 5.52%, and the long-term rate dropped 5.10% to 8.74%, reflecting a bond rally spurred by revised power regulations reducing trade frictions. Commodity prices varied: WTI crude gained 0.65% to 93.56, while Brent crude declined 4.74% to 97.08. Silver fell 3.35% to 75.28, gold dipped 0.20% to 4,722.90, and Bitcoin slipped 0.60% to 77,734.35, amid risk-averse sentiment.
No significant data releases occurred, shifting attention to global commodity dynamics and their influence on market mood.
The Day Ahead
With an empty economic calendar, no scheduled releases or events are set for Mexico, enabling markets to process recent international updates. Focus may pivot to potential unscheduled news on trade negotiations or security matters post the Teotihuacán shooting. US economic indicators could affect dollar movements, indirectly swaying USD/MXN trading.
Commodity trends, particularly in oil, will be watched closely due to Mexico's export dependence. Absent major data, volumes may remain subdued, with trades driven by sentiment in stocks and fixed income. Any emerging Banxico statements could offer guidance on policy direction.
Other Economic Notes
Nearshoring advances as Mexico adjusts power regulations to aid private electricity firms, mitigating strains before USMCA discussions and fostering industrial expansion. Tourism sees record US visitor growth, aligning with regional trends in Brazil, Costa Rica, Guatemala, Peru, Argentina, Colombia, Ecuador, and Suriname, though the pyramid attack raises security worries that might curb enthusiasm. Oil exports gain support from Japan's commitment to import 1 million barrels from Mexico, reducing Middle East reliance.
A new entrant, 1947 Oil & Gas, acquires assets in the US Gulf of Mexico, signaling offshore sector activity. These developments bolster economic resilience amid remittances and commodity flows, despite ongoing energy reform challenges.
