Mexico Macro Daily(Beta Mode)
Mexico Curve Steepens Amid Light Trading
Market Snapshot
| Asset | Level | Change |
|---|---|---|
| IPC Bolsa | 64,397.45 | -0.66% |
| USD/MXN | 17.02 | -0.06% |
| EUR/MXN | 19.70 | +0.17% |
| WTI Crude | 84.14 | -0.43% |
| Silver | 65.13 | -1.50% |
| Gold | 4,449.20 | +0.71% |
| Brent Crude | 91.03 | +0.18% |
| Bitcoin | 64,272.01 | -0.36% |
| Mexico Short-term Rate | 5.19% | -3.17% |
| Mexico Long-term Rate | 9.45% | +6.42% |
Prior Economic Events
| Data | Prior | Cons | Actual |
|---|---|---|---|
| No events available | |||
Mexico Exports Value | Type: macro_line | USD mn: 29.99 (2026-06-01) | Range: -3.983–31.24 | Trend(6pt): 8.153,6.704,-3.983,6.56,30.09,29.99
Today's Economic Events
| Data | Prior | Cons | Time |
|---|---|---|---|
| No events available | |||
- IPC Bolsa falls 0.66% to 64,397.45 with no domestic data releases.
- USD/MXN holds near 17.02 while long-term Mexican yields jump 6.42%.
- Banxico policy rate remains at 6.50% with July CPI at 3.12% YoY.
Yesterday's Recap
Mexican markets traded in a data vacuum on August 17 as the calendar showed zero scheduled releases. The IPC Bolsa declined 0.66% to close at 64,397.45, reflecting modest profit-taking after recent gains. USD/MXN eased 0.06% to 17.02, indicating limited peso pressure despite global uncertainty.
Mexico’s short-term rate fell 3.17% to 5.19% while the long-term rate surged 6.42% to 9.45%, steepening the curve. EUR/MXN rose 0.17% to 19.70. WTI crude slipped 0.43% to 84.14, Brent gained 0.18% to 91.03, gold advanced 0.71% to 4,449.20 and silver fell 1.50% to 65.13, providing mixed external signals for Mexican assets.
Bitcoin eased 0.36% to 64,272.01. Volume remained light as participants awaited clearer direction from USMCA-related developments and nearshoring flows. Overall, the session highlighted resilience in the peso against a backdrop of absent local catalysts.
The Day Ahead
August 18 brings another empty domestic calendar with no inflation prints, retail sales, or Banxico speeches listed. Traders will monitor US data releases for indirect effects on USD/MXN and Mexican yields. Attention stays on commodity prices, particularly Brent crude at 91.03, given Mexico’s energy exposure.
Equity flows into IPC Bolsa may stay subdued until fresh economic signals emerge. Market participants continue to assess the impact of the verified 3.12% July CPI reading on future Banxico decisions. Positioning remains cautious ahead of any potential USMCA policy updates from Washington.
Other Economic Notes
Nearshoring continues to support Mexican manufacturing investment despite the lack of fresh monthly indicators. USMCA trade balances remain a key driver for peso stability and industrial production trends. The verified Banxico rate of 6.50% and CPI at 3.12% YoY suggest policy is positioned near neutral with inflation close to the 3% target.
Long-term yield increases may reflect shifting expectations around fiscal financing needs. Mexico’s external accounts benefit from steady commodity revenues even as global growth concerns persist.
