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EM LATAM CREDIT: Mexico: Pemex 2030 Plan to be Presented, MXN Steady Ahead of US

EM LATAM CREDIT
MexicoBulletNorth America

 

• As a reminder, Economy Minister Ebrard was vocal in his criticism of the latest US tariffs on steel/aluminium, stating that it is not justified and that it is a bad idea. Ebrard explained that Mexico will have consultations with the new US administration with respect to these tariffs next week.
• Price action for Mexican assets has been uninspiring, with USDMXN consolidating in a relatively tight 20.50/70 range as the US CPI data is awaited. Consensus sees US core CPI inflation accelerating to a seasonally adjusted 0.3% M/M (unrounded 0.29%) in January.
• It is worth noting the White House barred an AP reporter from covering an event with President Trump and adviser Elon Musk on Tuesday. The longtime newswire said it was an unjust response for its style guide not adopting the president’s new “Gulf of America” label.
• Pemex CEO Victor Rodriguez will present the company’s business plan through 2030, joining President Sheinbaum at her daily press conference at 1330GMT/0830ET.

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• As a reminder, Economy Minister Ebrard was vocal in his criticism of the latest US tariffs on steel/aluminium, stating that it is not justified and that it is a bad idea. Ebrard explained that Mexico will have consultations with the new US administration with respect to these tariffs next week.
• Price action for Mexican assets has been uninspiring, with USDMXN consolidating in a relatively tight 20.50/70 range as the US CPI data is awaited. Consensus sees US core CPI inflation accelerating to a seasonally adjusted 0.3% M/M (unrounded 0.29%) in January.
• It is worth noting the White House barred an AP reporter from covering an event with President Trump and adviser Elon Musk on Tuesday. The longtime newswire said it was an unjust response for its style guide not adopting the president’s new “Gulf of America” label.
• Pemex CEO Victor Rodriguez will present the company’s business plan through 2030, joining President Sheinbaum at her daily press conference at 1330GMT/0830ET.