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Canada Join Mexico in USMCA Car Parts Dispute

MEXICO
  • Mexico's formal dispute with the US' interpretation of a USMCA rule on vehicle parts has been joined by Canada, turning attention to a meeting due next Thursday between officials from all three countries.
  • AMLO has outlined the preferred buyers for Citi's retail Banamex unit, stating that he would prefer a local investor, although foreign bidders will not be banned. AMLO named Banco Azteca, Inbursa and Banorte as bidders in the running.
  • There are no notable Mexican data releases or CB speakers on Friday, keeping focus on US releases including retail sales and prelim UMich confidence.
  • USD/MXN has drifted lower through Friday morning, with the pair printing lower lows for a seventh consecutive session. The 200-dma underlines key support going forward at 20.2781, which generally held through October last year.

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