Mexican peso depreciates due to climate of risk aversion, stock market closes almost stable

MEXICO CITY, Aug 18 (Reuters) – The Mexican peso fell for the third consecutive session on Thursday, amid an adverse climate for emerging market currencies on fears about the global economic outlook, while the stock market was resilient. towards the end of the session.

* The local currency was trading Thursday afternoon with a loss of 0.81%, at 20.1312 units per dollar, and at its session low it traded at 20.1750 units, with an intraday drop of just over 1%.

* The trend of the currency, which has been in the red for three days, was in line with the decline in the currencies of the region, in the context of the slowdown of large economies and a panorama of higher rates, while at the domestic level it influenced advance data on economic activity.

* During the week, the peso accumulated a depreciation of 1.6%.

* The national statistical agency, INEGI, reported early on Thursday that the Timely Indicator of Economic Activity (IOAE) grew by 1.5% year-on-year in July, while showing a slight decline in the month-on-month comparison.

* A CI Banco note sent to clients considered that if confirmed, the inter-monthly reading of the IOAE “would be the third consecutive fall, consolidating the slowdown shown at the end of the first half of the year.”

* In the stock market, the benchmark S&P/BMV IPC index recovered losses of almost 1% during the morning to close with a marginal loss of 0.01%, at 48,729.80 points.

* Among the most notorious decreases were Operadora de Sites Mexicanos, whose papers lost 2.51%, to 22.10 pesos, and Banco Regional

* In the debt market, the 10-year bond yield rose 12 basis points to 8.73%, while the 20-year rate rose 14 basis points to 8.95%. (Reporting by Marion Giraldo)

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