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MEXICO: Judicial Reform Progress Remains in Focus

MEXICO
EM BulletMexicoBulletGlobalEmerging Market NewsRegion
  • The judicial reform bill proposed by outgoing President AMLO is set to be presented in the Senate on Tuesday. The controversial proposals to allow voters to elect judges face a final hurdle in Congress against a backdrop of opposition street protests, diplomatic tensions and heightened investor uncertainty.
  • Senator Miguel Angel Yunes Marquez, of the PAN party, has been in the spotlight of local news media for days. Political columnists have identified him as the most likely opposition senator to support ruling party Morena’s plan for the constitutional reform in question. One member of the ruling coalition said on Monday that Mexican senators want to vote on the judicial reform on Tuesday, one day ahead of the original intended plan.
  • Market anxieties have been well reflected by the struggling price action for the Mexican peso in recent weeks. While USDMXN has been oscillating either side of 19.90 over the past 24 hours, we remain close to the year’s highs and bull trigger around 20.20, and volatility is expected to remain high as we await both domestic developments and the US inflation data tomorrow.
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  • The judicial reform bill proposed by outgoing President AMLO is set to be presented in the Senate on Tuesday. The controversial proposals to allow voters to elect judges face a final hurdle in Congress against a backdrop of opposition street protests, diplomatic tensions and heightened investor uncertainty.
  • Senator Miguel Angel Yunes Marquez, of the PAN party, has been in the spotlight of local news media for days. Political columnists have identified him as the most likely opposition senator to support ruling party Morena’s plan for the constitutional reform in question. One member of the ruling coalition said on Monday that Mexican senators want to vote on the judicial reform on Tuesday, one day ahead of the original intended plan.
  • Market anxieties have been well reflected by the struggling price action for the Mexican peso in recent weeks. While USDMXN has been oscillating either side of 19.90 over the past 24 hours, we remain close to the year’s highs and bull trigger around 20.20, and volatility is expected to remain high as we await both domestic developments and the US inflation data tomorrow.