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President-Elect Sheinbaum To Announce More Cabinet Appointments

MEXICO
  • With US markets closed for the July 4th Independence Day holiday, the Mexican peso continues to trade moderately firmer against the US dollar today, with USDMXN piercing initial support at the 20-day EMA at 18.131. As highlighted earlier, a clear break would expose the 50-day EMA at 17.7117, which closely matches with the 61.8% retracement of the post-election swing.
  • Today, President-elect Claudia Sheinbaum will announce more members of her cabinet at 1800BST(1300ET), with focus on whether the remaining posts are filled by experienced technocrats or party loyalists.
  • On the data front, the leading indicator for May will be released at 1300BST(0800ET). Further ahead, next week’s June inflation data and Banxico minutes remain the highlights on the domestic calendar.

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