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Accord To Speed Up Signing of European Union Free Trade Agreement

MEXICO
  • USDMXN has spent the last 48 hours consolidating towards the bottom of the most recent trading range. Largely respecting a 17.10-17.25 zone, the focus remains on key support at 17.0507, the Apr 29 2016 low, which has held for now. Both bi-weekly CPI and Banxico’s meeting will garner attention next week.
  • On Thursday, President AMLO said on Twitter he met with the European Commission President Ursula Von Der Leyen and agreed to speed up the signing of the free trade agreement between Mexico and the European Union.
  • Roughly 33% of companies surveyed by Mexico’s central bank say they have plans to expand production or increase investment in the country, according to a presentation by chief economist Alejandrina Salcedo.
  • The survey included more than 400 companies, including some foreign, showing that the impact of nearshoring, as the relocation of companies is known, will be gradual since investment projects are planned over several years.

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