Free Trial

Goldman Sachs Note Solid Export Outlook Despite Trade Data Surprise

MEXICO

Trade Data released this morning surprised with a $3 billion deficit versus estimates for a $3.4 billion surplus.

  • Goldman Sachs have released a note claiming the outlook for Mexican exports remains positive, citing strong U.S. demand.
    • US demand and a competitive exchange rate will continue to support Mexican exports.
    • Robust remittances more than offset the loss of income from international tourism, leading to current account surplus
    • Supply chain disruptions caused by gas supply restrictions in the U.S. and Mexico and a scarcity of semiconductors caused weak auto exports, explaining the data surprise.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.