Mexico Markets Morning Note: Peso Softens, Equities Hit An Air Pocket After Friday’s Selloff
Key Points
- USD/MXN rebounded to about 17.49 after late-January peso strength looked stretched and crowded.
- Mexico’s IPC slid 2.72% on Friday to 67,598.95 on heavy volume, led by a sharp mining unwind.
- Charts now show a short-term dollar bounce risk, while equities look vulnerable to more profit-taking.
The tone changed fast going into February. By Monday morning, USD/MXN was trading near 17.49, up from last week’s lows.
The daily chart shows a session range from 17.4310 to 17.5705, with the pair closing around 17.4933. That is a clear rebound day for the dollar.
The four-hour chart shows why the move felt abrupt. Price snapped higher from the late-January base and pushed through several short moving averages.
Momentum flipped quickly. Four-hour RSI was around 64.6, while the daily RSI sat near 42.5. That gap often signals a bounce inside a broader trend.
Key USD/MXN levels are now tight. Support sits at 17.43, then 17.35 and 17.26. Resistance starts near 17.57, then 17.65 and 17.77.
A move back under 17.43 would revive the peso momentum. A move above 17.57 would confirm the bounce is still running. Mexico equities were the bigger story.
Friday’s session ended with the IPC at 67,598.95, down 1,893.48 points, or 2.72%. The day’s high was 69,190.03 and the low was 67,468.04. Volume was about 221.15 million shares. That is a heavy-risk-off footprint, not a routine dip.
The damage was concentrated. Mining and large financial names pulled the index down hard. The move also matched a broader global shift toward a firmer dollar and higher caution into month-end.
Top Winners (Stocks, Friday)
- TLEVISACPO +2.60%
- LABB +2.07%
- KOFUBL +1.83%
- BIMBOA +1.27%
- LIVEPOLC-1 +1.07%
Top Losers (Stocks, Friday)
- PE&OLES -13.42%
- GMEXICOB -7.00%
- GFNORTEO -3.55%
- GENTERA -3.37%
- BBAJIOO -3.37%
Key Facts
— Deep Dive
— For the complete picture, read our in-depth guide: Mexico Economy 2026: GDP, Peso, Nearshoring, Banxico and Trade
Live Market IntelligenceMexico — Live Market Board
Rio Times · Live Market Intelligence
Mexico — Live Market Board
+2.14%
171,031.73
+1.85%
65,729.18
+2.14%
11,338.38
+0.89%
2,913,184
+1.30%
2,459.23
+0.61%
58,698.13
+2.60%
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IPC MEX | 65,729.18 | +2.14% | +12.17% | 64,349.80 | 66,121 | 65,405 | 108,886,187 |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| WALMEX | 48.07 | -0.62% | -14.38% | 48.37 | 48.65 | 48.02 | 10,781,446 |
| GMEXICO | 223.28 | +0.35% | +73.59% | 222.50 | 226.18 | 222.17 | 1,325,556 |
| FEMSA | 201.19 | -0.24% | +25.67% | 201.67 | 206.71 | 199.56 | 750,706 |
| CEMEX | 19.32 | +0.89% | +19.10% | 19.15 | 19.35 | 19.04 | 14,327,054 |
| GFNORTE | 193.98 | +1.18% | +14.36% | 191.71 | 195.79 | 191.83 | 1,579,115 |
| BIMBO | 60.98 | -0.96% | +11.89% | 61.57 | 61.46 | 60.29 | 1,048,115 |
| TELEVISA | 9.71 | +0.21% | +12.78% | 9.69 | 9.75 | 9.60 | 577,851 |
| AMX | 19.80 | -0.95% | +12.53% | 19.99 | 20.05 | 19.70 | 58,058,525 |
| GAP | 366.23 | +0.43% | -21.21% | 364.68 | 370.85 | 362.82 | 226,946 |
| ASUR | 275.04 | +1.25% | -15.28% | 271.64 | 275.08 | 271.31 | 15,451 |
| OMA | 233.50 | +0.62% | -6.48% | 232.06 | 235.00 | 230.62 | 555,693 |
| KOF | 188.04 | +0.86% | +18.94% | 186.44 | 188.56 | 185.52 | 425,273 |
| GRUMA | 252.90 | +0.11% | -21.85% | 252.61 | 254.74 | 250.36 | 90,048 |
| KIMBER | 39.74 | +0.43% | +8.85% | 39.57 | 40.09 | 39.33 | 490,551 |
| AMX ADR | 23.38 | -0.23% | +22.25% | 23.43 | 23.49 | 23.06 | 1,347,445 |
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