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Mexican Stocks Under Pressure Amid Sheinbaum's Inauguration and Economic Concerns

 

October 3, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a go-to platform for big investing ideas releases market commentary from Quasar Elizundia, expert research strategist at Pepperstone.

"Mexican stocks are expected to remain under pressure, following yesterday's trend with the S&P/BMC IPC closing half a percent lower. Investor sentiment could depend on Sheinbaum's ability to maintain a stable regulatory environment and address the budget deficit left by her predecessor. Whilst her commitment to central bank autonomy may stabilise the peso and support equity investments, concerns over potential judicial reforms and U.S. trade risks could increase market volatility.

Deputy Governor Jonathan Heath of Mexico's central bank stressed the need for a restrictive monetary policy to tackle persistent services inflation, still above 5%. Although annual inflation dropped to 4.66% in September, the 3% target remains elusive. After a recent 25-basis point rate cut to 10.5%, future adjustments could depend on U.S. Federal Reserve actions. High rates may weigh on stocks, but lower inflation could restore investor confidence and support a recovery.

Meanwhile, Tropical Depression Eleven-E threatens sectors like agriculture, construction, and tourism, with market sentiment potentially declining due to fears of economic disruption. On the economic front, attention will shift to the release of domestic unemployment figures this Friday. In July, Mexico's unemployment rate marked a slight uptick from June's 2.8% value. Increasing unemployment numbers could fuel a more bearish sentiment."

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Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

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