January 15, 2025 11:44 GMT
MEXICO: Sheinbaum Administration to Meet with Canadian Business Execs
MEXICO
- Canadian CEOs will start meetings with President Claudia Sheinbaum, Economy Minister Marcelo Ebrard and Foreign Minister Juan Ramon de la Fuente, in a bid to strengthen trade ties.
- As a reminder, President Sheinbaum’s continued determination to maintain the USMCA agreement and foster the promotion of nearshoring should set a positive tone for the discussions, a dynamic that may have provided an additional peso tailwind on Tuesday.
- Sheinbaum on Monday presented an ambitious economic plan whose goals include making Mexico the 10th largest economy in the world, reducing reliance on imports from China and other Asian countries and creating 1.5 million new jobs.
- USDMXN hovers at 20.50 ahead of the US data, sitting in the middle of the well-defined short-term technical parameters, with key support to monitor at 20.0219 (Dec 20 low), and the bull trigger defined at 20.9072 (Dec 31 high).
- October gross fixed investment and personal consumption data headlines the domestic calendar this week, and is scheduled for 1200GMT/0700ET:
- Oct. Gross Fixed Investment NSA YoY, est. -2.8%, prior -3.3%
- Oct. Gross Fixed Investment SA MoM, est. 0.1%, prior -0.8%
- Oct. Private Consumption YoY, est. 1.4%, prior 1.0%
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