The Mexican peso appreciated 0.07% against the dollar on April 27, closing at 17.38 units, due to stalled negotiations between the United States and Iran. President Donald Trump canceled the second round of talks scheduled in Pakistan, while Iranian representatives traveled to Russia. Global markets showed mixed reactions to the uncertainty.
The Mexican peso closed on April 27 with a minimal 0.07% appreciation against the US dollar, at 17.38 units per dollar, one centavo less than the previous Friday, according to Banco de México data. Banamex reported the dollar selling at 17.78 pesos and buying at 16.86 pesos.
The second round of negotiations between Donald Trump's representatives and Iran, scheduled for the weekend in Pakistan, was canceled by the US president. “They gave us a document that should have been better and curiously, immediately after canceling it, in ten minutes we received a new document that was much better,” Trump said. In response, Iran's Foreign Minister Abbas Araghchi traveled to Russia to meet President Vladimir Putin.
Stock markets reacted cautiously. In Wall Street, the Nasdaq fell 0.32% to 24,757.80 points, S&P 500 dropped 0.10% to 7,156.88, and Dow Jones lost 0.07% at 49,188.10. In Mexico, S&P/BMV IPC declined 0.67% to 68,768.13 units and FTSE-BIVA 0.74% to 1,375.85.
European indices were mixed: IBEX 35 rose 0.18% to 17,723.80, DAX 0.12% to 24,157.72, CAC 40 0.01% to 10,347.77, and FTSE 100 fell 0.29% to 10,349.32. Oil advanced, with WTI at $96.38 (+2.10%) and Brent at $107.98 (+2.52%).
Felipe Mendoza, analyst at EBC Financial Group, noted that markets will watch Mexico's GDP and Fed rhetoric.
