

Source: Reuters
(Reuters) – Mexico’s peso led losses across Latin American on Wednesday as second-quarter GDP data missed expectations and raised fears of slowing growth, while most other currencies fell as concerns over the Delta coronavirus variant returned to fore.
The peso fell 0.6% as second-quarter economic growth came in at 1.5%, slightly below expectations of 1.7%. The Mexican economy also shrank in June from May.
The reading, coupled with a recent spike in Mexican COVID-19 cases has made the peso appear less attractive than some its high-yielding emerging market peers.
A drop in Mexican inflation in the first half of August also lowered the chance of an interest rate hike by the central bank. “Even prior to the current crisis, the country’s economy had been under pressure, contracting in six of the eight quarters leading up to the pandemic,” said Matthew Ryan, senior market analyst at Ebury.
“The recovery has, however, not been quite as rapid as many of Mexico’s peers. We think this is partly a consequence of the government’s unwillingness to increase fiscal spending.”
Source: Reuters
Comments
more recommended stories
Ray Liotta, ‘Goodfellas’ star and gifted character actor, dies at 67
Ray Liotta, the actor best known.
Merida City Council presented the 2022 Forestry Crusade “In Harmony with Nature”
With the aim of continuing to.
Huge Flamboyán tree falls on top of a car in Ucú, Yucatán
A mother who went to pick.
Photographic essay: Colombia elections, a reality not too far away from Mexico’s
Colombia will host Presidential elections this.
Mérida and San Francisco outline projects to multiply the areas of opportunity
“As a Municipality, we work in.
On the issue of the Cuban doctors in Mexico, AMLO literally said: “Conservatives go to hell!”
Andrés Manuel López Obrador, president of.
Yucatan and Campeche, the states with the highest honey production in Mexico
Within the framework of World Bee.
Is Yucatan ‘running out’ of priests?
“In Yucatan there are around 150.
AMLO meets privately with the owner of Calica
President Andrés Manuel López Obrador held.
Playa del Carmen “suffers” the massive arrival of sargassum
The massive arrival of sargassum on.
Leave a Comment