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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
MEXICO
- USDMXN reversed aggressively yesterday after probing resistance at 20.97, the late March highs, just ahead of the psychological 21.00 mark.
- Continued buoyancy in equity indices prompted some renewed appetite for the peso.
- On the downside, initial support is seen at 20.4648, the 20-day EMA.
- The main news overnight focuses on Reforma reports of a deferral of the controversial Power Reform proposed by President AMLO.
- Parliamentary groups of Mexico's ruling Morena party, the Ecologist Green party and the Labor party agreed to defer debate on electricity reform to April 15, 2022, Reforma reports.
- Lawmakers ratified delaying debate on electricity reform, which doesn't have a qualified majority to be approved in current session that concludes December 15, according to Reforma.
- Separately, Morena party lawmaker Ignacio Mier said on Twitter that the time-line should leave enough space for electricity generators to be able to participate in an open debate about the controversial reform. Lawmakers expect to have Congress and local legislatures fully approve the nationalist electricity bill by mid-April of next year.
- U.S. Ambassador to Mexico Ken Salazar says he met with Mexican officials to discuss electricity reform. Salazar said he wanted to learn about the impetus of the proposed constitutional reform and that he expressed serious concerns for the U.S.
- A judge ordered on Wednesday that former Pemex CEO Emilio Lozoya be held in prison as part of a corruption case involving bribes from the Brazilian company Odebrecht and high-profile politicians including former Mexican president Enrique Pena Nieto. (BBG)
MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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