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MEXICO: Q3 Current Account Data Due, Banxico Minutes Thursday

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • The Mexican peso is slightly underperforming on Monday amid the broader dollar pessimism owing to the Bessent pick for US treasury secretary. USDMXN is 0.35% lower on the session at 20.37, towards the upper end of last week’s trading range with firm resistance around 20.80 continuing to be the most notable level for the pair.
  • Bloomberg has reported that Mexico is making a substantial investment to more than double the capacity of its main commercial port — a show of confidence that imports and exports will increase significantly in the coming years. The 55 billion-peso ($2.7 billion) expansion of the Navy-run Port of Manzanillo, located in the western state of Colima on the Pacific Ocean, would vault it into the top 20 container ports in the world. (BBG)
  • On today’s data calendar, Mexico will report current account balance figures for the third quarter. It is expected to post a C/A deficit of $911 million in Q3, according to economists surveyed by Bloomberg, down from a $3.64b-surplus in the prior quarter. The data will be released at 1500GMT/1000ET. Later in the week, Banxico will report the latest quarterly inflation report and the minutes from the November MPC meeting.
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  • The Mexican peso is slightly underperforming on Monday amid the broader dollar pessimism owing to the Bessent pick for US treasury secretary. USDMXN is 0.35% lower on the session at 20.37, towards the upper end of last week’s trading range with firm resistance around 20.80 continuing to be the most notable level for the pair.
  • Bloomberg has reported that Mexico is making a substantial investment to more than double the capacity of its main commercial port — a show of confidence that imports and exports will increase significantly in the coming years. The 55 billion-peso ($2.7 billion) expansion of the Navy-run Port of Manzanillo, located in the western state of Colima on the Pacific Ocean, would vault it into the top 20 container ports in the world. (BBG)
  • On today’s data calendar, Mexico will report current account balance figures for the third quarter. It is expected to post a C/A deficit of $911 million in Q3, according to economists surveyed by Bloomberg, down from a $3.64b-surplus in the prior quarter. The data will be released at 1500GMT/1000ET. Later in the week, Banxico will report the latest quarterly inflation report and the minutes from the November MPC meeting.