墨西哥股票指数 (IPCMexico) 加自选

墨西哥比索兑美元汇率升至20.1，接近3月18日创下的四个月高点，人们越来越乐观地认为，美国定于4月2日征收的关税将比最初担心的更有针对性，也不会那么严厉。报告显示，唐纳德·特朗普总统即将出台的关税将是狭义的，缓解了对经济合作与发展组织警告的经济衰退风险的担忧，该组织预测，如果持续征收关税，2025年和2026年将分别收缩1.3%和0.6%。此外，3月中旬通胀率降至3.67%，低于预期，表明国内价格压力得到了很好的控制，进一步支撑了对比索的信心。

The Mexican peso strengthened toward 20.1 per USD, nearing a four-month high reached on March 18th, amid growing optimism that the US tariffs set for April 2nd will be more targeted and less severe than initially feared. Reports indicate that President Donald Trump's forthcoming tariffs will be narrowly tailored, alleviating concerns over the risk of a recession as warned by the Organization for Economic Cooperation and Development, which projected a contraction of 1.3% in 2025 and 0.6% in 2026 if sustained tariffs persist. Additionally, an easing of inflation to 3.67% in mid-March, coming in below forecasts, suggests that domestic price pressures are being well managed, further supporting confidence in the peso.

2025年1月，墨西哥的经济活动同比下降0.1%，这是连续第二次下降，与市场预测相符。本月表现疲软主要归因于次要活动（-2.9%对-2.7%），特别是建筑业（-6.7%对-7.5%）和制造业（-0.9%对-0.6%）。另一方面，初级活动经历了急剧反弹（14.8%对-8%），主要受农业（22.4%对-11.3%）和畜牧业（1.3%对1.1%）的推动。与此同时，1月份服务业增长0.8%，而前一个月增长1.3%。经季节性调整的月度数据显示，墨西哥经济活动在上个月修正后下降1.1%后，收缩了0.2%。

Mexico's economic activity fell by 0.1% year-on-year in January 2025, marking the second successive decline, in line with market forecasts. The weak performance during the month was largely attributed to secondary activities (-2.9% vs -2.7% in December), notably construction (-6.7% vs -7.5%) and manufacturing (-0.9% vs -0.6%). On the other hand, primary activities experienced a sharp rebound (14.8% vs -8%), mainly driven by agriculture (22.4% vs -11.3%), and, to a lesser extent, livestock activities (1.3% vs 1.1%). At the same time, services grew 0.8% in January, after a 1.3% increase in the previous month. On a seasonally adjusted monthly basis, Mexican economic activity shrank by 0.2%, following a revised 1.1% decrease in the preceding month.

墨西哥上半月通货膨胀率为0.14%，低于3月份的预期（0.22%）。墨西哥上半月通货膨胀率为0.14%，低于3月份的预期（0.22%）

Mexico 1st half-month Inflation came in at 0.14%, below expectations (0.22%) in March.Mexico 1st half-month Inflation came in at 0.14%, below expectations (0.22%) in March

墨西哥比索因经济疲软和贸易担忧而承压。周五，墨西哥比索对美元保持防御性，这是由于对美国在央行繁忙的一周中实施的贸易政策的担忧加剧的。墨西哥疲软的数据表明，经济放缓的程度比预期的要严重，因此比索贬值。

Mexican Peso pressured on economic weakness and trade fears.The Mexican Peso remained defensive against the US Dollar on Friday, fueled by fears about trade policies the United States (US) implemented amid a busy week in the central bank space. Softer data in Mexico suggest the economy is slowing down harder than expected, hence the Peso's depreciation.