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Sheinbaum To Resign Ahead Of Presidential Bid

MEXICO
  • The USDMXN downtrend remains intact and the pair continues to hover around multi-year lows. The bear trigger at 17.4207, the May 15 low, has been cleared, confirming a resumption of the downtrend which opens 17.0507, the Apr 29 2016 low.
  • Mexico City Mayor Claudia Sheinbaum will resign from her post on June 16 to start her presidential campaign ahead of next year’s election. (BBG)
  • “I have made the decision to permanently resign from my post on June 16 with the purpose of becoming the first female in the history of Mexico to be president,” Sheinbaum announced during a press conference Monday.
  • Mexico will publish its report on international reserves for the week ending on June 9. For reference, reserves rose to $203b in the prior week.

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