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AMLO Remains Optimistic Over US Trade Dispute

  • USDMXN trades lower broadly in line with the dollar indices, consolidating around the 20.00 mark. A continuation higher would further undermine a recent bearish threat and expose resistance at 20.2944, the Sep 1 high. On the downside, a break of Monday’s low of 19.7533, the Sep 12 low, is required to reinstate a bearish theme.
  • President AMLO said Mexico will work with the US to resolve company complaints while developing joint energy investments as both countries try to tone down an ongoing trade dispute.
  • AMLO hailed U.S. Commerce Secretary Gina Raimondo for her attitude in talks this week, saying she gave no indication of wanting to punish Mexico over an energy dispute between the two countries.
    • "The word tariff or sanction wasn't even used, nothing," he added, saying there was no cause for such measures and stressing that the two sides wanted to deepen economic ties. (Reuters)

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