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AMLO Contracts Virus, MXN Steady

MEXICO

Mexico President has contracted Covid-19. Given his symptoms remain mild, price action in local assets has been muted. 20.00 holds to the topside for now after the solid 2% bounce from Thursday's lows around 19.55.


Joe Biden discussed his plans to reverse Donald Trump's immigration policies with Mexican president Andrés Manuel López Obrador on Friday, according to a phone call readout released by the White House on Saturday. Biden has also ordered the end of construction on the wall, a flagship Trump project.


*Today we have economic activity IGAE data at 1200GMT/0700ET for November. The figure is expected at 0.44% m/m versus a prior 1.58%.

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