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Government Gets Green Light On Iberdola Energy Asset Purchase

MEXICO
  • USDMXN has traded in a very tight range Friday, moderately extending losses overnight to reach 17.0293, narrowing the gap to initial support at the 17.00 handle. Key support and the bear trigger remain at 16.7852, the Jan 8 low.
  • Today, the local docket remains light, although nominal wages data may cross. Next week’s calendar is busier, with Banxico minutes and bi-weekly CPI data crossing, alongside December retail sales and the final reading of Q4 GDP.
  • In other news, Mexico’s antitrust regulator approved the government’s purchase a majority stake in Iberdrola SA’s energy assets on Thursday, as long as the energy assets are operated independently. The $6bn deal would give Mexico’s state utility CFE more than 55% of the national electricity market. The government stake will be limited to 51% as part of an earlier agreement, with the remainder going to private investors.
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