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Buenos Aires .- The Mexican peso enters this week in a new phase of greater volatility after the victory of the leftist Andrés Manuel López Obrador in the presidential vote of Mexico, investors fearing a less friendly approach with the market by the elected government beyond its reassuring message.
* The currency has gone from recording an improvement to suffering losses in just a few hours after the polls result. López Obrador sought to show guarantees of economic stability, but also mentioned the possibility of reviewing oil contracts, a factor that generated nervousness.
* "The long transition period of five months until the president-elect swears December 1 could be a source of volatility," said Goldman Sachs in a report Friday, anticipating a victory for Lopez Obrador . "There are several questions of political preferences (…) that are not clear."
* The Eurasia consultancy noted: "Mexico was ruled by a technocratic center-right elite since 1982. That era was over, investors must be prepared to deal with a country where decisions will be more politicized, and the market solutions will be less attractive to the new administration. "
* Meanwhile, the analysis company Capital Economics said that" in the coming weeks we will wait for indications on size and nature of any fiscal stimulus, or signs of a more interventionist energy policy (…) an important (fiscal) stimulus would increase market returns.
* For its part, Brazil is experiencing a similar increase in Uncertainty and its impact on the real, which has approached the lows of the year when an opinion poll for the October elections showed the far right legislator Jair Bo lsonaro in the lead
* President of the Central Bank of Brazil (BCB), Ilan Goldfajn, maintains sales of "swap" swaps to orchestrate an orderly adjustment of the real, although this strategy involves an increase * In general, all Latin American currencies will continue to be subject to short-term pressures by domestic factors but also by global aspects such as the dollar's escalation due to the prospect of further increases public debt. interest rates in the United States.
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