Mexico Markets Morning Note: Peso Softens, Equities Hit An Air Pocket After Friday’s Selloff

2026-02-02 - 09:15

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