On October 9, 2024, the Mexican peso experienced a decline while the Mexican Stock Exchange (BMV) reported modest gains, reflecting benign local inflation data. The peso closed at 19.4858 units per dollar, marking a 0.80% depreciation compared to the previous day.
The benchmark S&P/BMV IPC index rose by 0.20%, finishing at 51,869.14 points after initially advancing over 1%. Meanwhile, U.S. stock indices also saw increases as investors digested the latest Federal Reserve meeting ahead of September's inflation data release.
Additionally, the price of crude oil fell due to rising inventory levels in the U.S. The Energy Information Administration reported an increase of 5.8 million barrels, bringing total inventories to 422.7 million barrels, surpassing analysts' expectations of a 2 million barrel rise. However, concerns over potential supply disruptions from Iran due to Middle Eastern conflicts and Hurricane Milton in the U.S. have tempered the decline in oil prices.
This situation reflects broader economic trends and geopolitical tensions that could have significant implications for global markets.