Biden And AMLO To Discuss Economic Collaboration, Migration

The Peso was better bid from the open as Equities had a relief rally, following the poor performance towards the end of last week. Since London sat down, however, USDMXN has retraced these losses and is in marginal positive territory at 20.8650.

**Foreign Minister Ebrard announced that U.S. President Joe Biden and President AMLO will meet virtually for the first time. The two are expected to discuss the pandemic, cracking down on drug trafficking and collaborating on economic opportunities. The discussion will also centre around efforts to control migration as the Biden administration contends with rising numbers of unaccompanied children at the southwestern border.

• The highlight of the week will be the Central Bank's release of their Inflation report.

• Today at 1530GMT/0930Local: Feb. Markit Mexico PMI Mfg, prior 43.0
• Reports that Mexican Deputy Health Minister Hugo Lopez-Gatell, known as the nation's coronavirus czar, was reportedly hospitalised due to Covid-19 were not confirmed, however, a spokesperson indicated he was stable and at home, after contracting the virus.