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MEXICO: Judicial Reform Progress in Focus, Unemployment Rate Data Due

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • USDMXN remains little changed on the session, consolidating around its elevated level of 19.80 approaching the US crossover. The pair remains around 6.5% above the mid-August lows as domestic risks surrounding Morena’s reform proposals and dampened growth weigh on the peso.
  • On Tuesday, the newly-seated lower house is scheduled to discuss and vote on the general text of President AMLO’s judicial reform proposal, with further discussion of individual articles set for Wednesday. Progress through congress will be monitored by markets closely amid the increased volatility in recent weeks.
  • Adding to the uncertain backdrop, Mexico’s top court workers voted to go on strike starting Tuesday over the proposed overhaul of the country’s judicial system, Radio Formula reported. They join other judiciary officials who started a strike in August.
  • July unemployment rate data and gross fixed investment figures for June are expected at 1300BST/0800ET. 
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  • USDMXN remains little changed on the session, consolidating around its elevated level of 19.80 approaching the US crossover. The pair remains around 6.5% above the mid-August lows as domestic risks surrounding Morena’s reform proposals and dampened growth weigh on the peso.
  • On Tuesday, the newly-seated lower house is scheduled to discuss and vote on the general text of President AMLO’s judicial reform proposal, with further discussion of individual articles set for Wednesday. Progress through congress will be monitored by markets closely amid the increased volatility in recent weeks.
  • Adding to the uncertain backdrop, Mexico’s top court workers voted to go on strike starting Tuesday over the proposed overhaul of the country’s judicial system, Radio Formula reported. They join other judiciary officials who started a strike in August.
  • July unemployment rate data and gross fixed investment figures for June are expected at 1300BST/0800ET.