Weight Resists Elections and Global Uncertainty

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The Mexican peso was placed yesterday among the least depreciated currencies against the dollar, despite the presidential election and trade tensions between the United States and its main partners.

The dollar ends up selling for 20.25 pesos at the CitiBanamex Banquer closed windows offering the currency at 20.30 pesos, BBVA Bancomer at 20.40 and the Scotiabank at 20.42 units.

However, the Mexican peso was only one of so many currencies that lost against the dollar on Monday, and even ranked among the least depreciated after losing 0.2% on the day

D & On the other hand, the Russian ruble fell 1%, the Brazilian real 0.9%, the South African rand CitiBanamex economists say that the dollar is appreciated compared to most currencies because of the new risk aversion. or financial markets, coupled with trade tensions between the United States and its major partners.

Compared to other emerging market currencies, the Mexican peso recorded a slight loss against the dollar on Monday, a day after their celebration. The largest elections in the history of Mexico, which indicate that Andrés Manuel López Obrador (AMLO) will be the new President of the Republic and his coalition is preparing to secure the majority of congressional seats in the country. ;Union.

In a report, CI Banco analysts believe that the composition of the legislature in Mexico is attracting attention and concern over financial markets, as it may facilitate López Obrador to implement measures and less favorable actions for the markets. that the Mexican currency continues to react in the short term to news related to the protectionist policy of the United States and speculation on interest rate increases of the Federal Reserve (Fed), among other factors exogenous.

It is expected that on Friday, Donald Trump's government will impose tariffs on $ 34 billion of imports from China, while the Asian country will do the same for automotive products Americans

Banco Base believes that international markets will be attentive to the statements of Andrés Manuel López Obrador on public finances and Mexico's trade relations with the United States. [19659002] AMLO virtual president-elect and Enrique Peña Nieto will meet today to begin the process of government transition

Global uncertainty has brought down the main index of the Mexican stock exchange by 2.1% Monday. , which means the most pronounced loss in almost five months, as of February 8, 2018.