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MEXICO: Government Considering Tariffs On Chinese Imports, Q4 Current Account

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • USDMXN is trading in a relatively tight range near the 20.50 level so far on Tuesday, as markets await further tariff developments. Yesterday, the government said it is considering imposing tariffs on Chinese imports to avoid 25% US tariffs on its goods. President Sheinbaum said that a group of officials is in Washington discussing potential tariffs on China with US officials. For USDMXN, initial resistance is seen at 20.7132, the Feb 5 high, while key support remains at 20.1343, the Jan 24 low.
  • On the data front, current account figures for the fourth quarter will be published at 1500GMT(1000ET). Analysts expect the surplus to rise to $9.2bn, from $733mn in Q3, according to the latest Bloomberg survey.
    • 4Q Current Account Balance, est. $9.2b, prior $733m
  • Separately, President Sheinbaum named Roberto Fernandez Gonzalez the country’s new Treasurer yesterday, replacing Maria Elvira Concheiro Borquez, according to a finance ministry statement. Today, Economy Minister Ebrard will host an event on the agricultural sector at 1600GMT(1100ET).
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  • USDMXN is trading in a relatively tight range near the 20.50 level so far on Tuesday, as markets await further tariff developments. Yesterday, the government said it is considering imposing tariffs on Chinese imports to avoid 25% US tariffs on its goods. President Sheinbaum said that a group of officials is in Washington discussing potential tariffs on China with US officials. For USDMXN, initial resistance is seen at 20.7132, the Feb 5 high, while key support remains at 20.1343, the Jan 24 low.
  • On the data front, current account figures for the fourth quarter will be published at 1500GMT(1000ET). Analysts expect the surplus to rise to $9.2bn, from $733mn in Q3, according to the latest Bloomberg survey.
    • 4Q Current Account Balance, est. $9.2b, prior $733m
  • Separately, President Sheinbaum named Roberto Fernandez Gonzalez the country’s new Treasurer yesterday, replacing Maria Elvira Concheiro Borquez, according to a finance ministry statement. Today, Economy Minister Ebrard will host an event on the agricultural sector at 1600GMT(1100ET).