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MEXICO: Analysts Highlight 20.80 as More Attractive USDMXN Selling Opportunity

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegionNorth America
  • *BBVA: The post-election high remains 20.8 in USDMXN, which could be tested again, particularly on selloffs related to tariff news. In the medium term, however, BBVA still see USDMXN consolidating back below the 20 level, although much will depend on the Trump administration’s package of policies.
  • *CIBC: Looking at USDMXN, without any new tariff headlines CIBC are agnostic about the path for the peso from current levels, but note than an approach to 20.80 is likely to bring back bets on the MXN’s carry.
  • *JP Morgan: Separately, JP Morgan highlighted last week that they saw MXN switching, as they have warned, to a new weaker equilibrium required to stabilize the economy, between 20.00-21.00 throughout 2025.
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  • *BBVA: The post-election high remains 20.8 in USDMXN, which could be tested again, particularly on selloffs related to tariff news. In the medium term, however, BBVA still see USDMXN consolidating back below the 20 level, although much will depend on the Trump administration’s package of policies.
  • *CIBC: Looking at USDMXN, without any new tariff headlines CIBC are agnostic about the path for the peso from current levels, but note than an approach to 20.80 is likely to bring back bets on the MXN’s carry.
  • *JP Morgan: Separately, JP Morgan highlighted last week that they saw MXN switching, as they have warned, to a new weaker equilibrium required to stabilize the economy, between 20.00-21.00 throughout 2025.