Markets Start Tuesday Cautiously: Peso Weakens, Ford Falls on Tariffs, and the Fed Begins Key Meeting
Global financial markets began trading on Tuesday, May 6, with a cautious tone, reflecting persistent economic uncertainty, trade tensions, and anticipation of crucial monetary policy decisions. The Mexican peso showed weakness against the dollar, while shares of key companies
like Ford reacted negatively to news about tariffs.
The Mexican peso began the day with a slight depreciation against the US dollar. The average exchange rate stood at 19.73 pesos per dollar in the early hours, after closing the previous day at 19.69 pesos. The FIX exchange rate published in the DOF for today was 19.6365. This weakness occurs in a worrying local context: Gross Fixed Investment in Mexico registered a 1.1% drop in February on a monthly basis, marking its seventh consecutive month of contraction and the largest drop since January 2021. This data
negative impact on productive investment adds pressure on the national currency.
| Bank | Buys | Sale |
|---|---|---|
| Banco Azteca | 18.80 | 20.15 |
| BBVA Bancomer | 18.90 | 20.03 |
| Banorte | 18.50 | 20.00 |
| Citibanamex | 19.08 | 20.24 |
| Affirm | 18.60 | 20.20 |
| Inbursa | 19.10 | 20.10 |
| Scotiabank | 17.00 | 22.00 |
| Go for more | 19.14 | 20.35 |
| Source: Data compiled from. Rates subject to change. |
International stock markets showed mixed performance in the early hours:
- Europe (ATX, Austria): Opened up 0.63%.
- Asia (Hang Seng, Hong Kong): Opened the session almost unchanged, with a slight positive variation of 0.11%. However, specific corporate news generated negative movements.
before the opening of the US markets:
- Ford Motor: Its shares fell nearly 2% in premarket trading after suspending its annual guidance and estimating a negative impact of $1.5 billion due to
to the announced tariffs.
- Palantir: The technology company fell almost 7% in premarket trading, despite its quarterly results beating expectations, although earnings tied
the estimated ones.
- Philips: The Dutch company presented its first-quarter results today. (Quote Block: [Insert analyst quote on the impact of tariffs on Ford or market reaction]) These reactions demonstrate the high sensitivity of markets to government policies, especially those related to international trade. The threat of tariffs from the Trump administration remains a factor.
uncertainty key.
Caution in the markets is also fueled by other relevant macroeconomic factors:
- Federal Reserve (Fed) Meeting: The Fed's Federal Open Market Committee begins a two-day meeting today. Its interest rate decisions are
highly anticipated and could set the course for global markets.
- Trade Tensions: Trump's meeting with the Canadian Prime Minister and the European Parliament debate on the response to US tariffs
keep alive the concern about a possible trade war.
- Energy: The EU is moving forward with its plan to reduce dependence on Russian gas, which could have implications for global energy prices and flows. The combination of weak local indicators (investment in Mexico), global trade tensions and expectations for the Fed create a complex scenario. If risk aversion increases and protectionist policies intensify, we could face a broader economic slowdown, forcing the
companies to reconfigure their strategies and supply chains in the medium term.
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