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Banxico’s Heath Speaks, USDMXN Remains Heavy

MEXICO
  • Deputy central bank Governor Jonathan Heath will speak on a panel at the Mexico Business Summit on the country’s perspectives amid a global recovery that remains volatile. Panel scheduled for 8:35am Mexico City time.
  • Mexico supports security measures offered by the state of Michoacan to resolve the U.S. Department of Agriculture’s concerns regarding the avocado trade, according to a govt statement.
    • Agriculture Ministry reported that it continues to verify the work plan signed with the USDA Animal and Plant Health Inspection Service for avocados is punctually fulfilled.
    • It appears the suspension on exports will remain in place while talks continue
  • President AMLO’s push to make Mexico self-sufficient in gasoline and diesel risks bringing back as early as next year crude imports that the president once lambasted.
    • State-owned producer Pemex estimates oil supply deficits of 47,000 barrels a day in 2023 and 97,000 in 2024 due to additional crude-processing capacity at its Cangrejera plant, according to company documents seen by Bloomberg.
  • Mexico’s president broadened his campaign against the mainstream press Wednesday, demanding information on the incomes of several prominent journalists, including Univision’s Jorge Ramos.
    • President Andrés Manuel López Obrador has accused journalists who publish critical stories of being “mercenaries” and “sellouts.” (APW)
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