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President-Elect Sheinbaum Names Marcelo Ebrard As Economy Minister

MEXICO
  • The Mexican peso has reacted positively to the news the Sheinbaum has chosen Marcelo Ebrard to be her economy minister. Ebrard was formerly the foreign minister between December 2018 and June 2023.
  • Meanwhile, Sheinbaum also named former UN ambassador Juan Ramon de la Fuente as foreign minister. In total, Sheinbaum named six ministers to her cabinet today, with six more to be announced next Thursday.
  • USDMXN is currently 0.3% lower on the day at ~18.37, having dipped as low as 18.3247 on the news of Ebrard’s appointment. Support to watch lies at 17.9247, the 20-day EMA.

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