According to Nick Verdi from Standard Chartered, Mexican investors are moderately positive on the domestic economy and the MXN outlook Investors expect a pick-up in US growth to benefit Mexico; USD-MXN seen at 15.00-15.2…
According to Nick Verdi from Standard Chartered, Mexican investors are moderately positive on the domestic economy and the MXN outlook
Investors expect a pick-up in US growth to benefit Mexico; USD-MXN seen at 15.00-15.25 at end-2015. The US economic trajectory was universally cited as the key swing factor for Mexico's economic outlook. Solid US employment growth was interpreted as more than offsetting other, weaker US data reports.
Mexico, which ships 78.5% of its exports to the US, will likely benefit more from a steady (albeit gradual) pick-up in US growth than its emerging-market (EM) peers.
Lower oil prices - in the context of FDI concerns - were cited as the main downside risk to the MXN.
Brazil is a major focus, with most Mexican investors anticipating further near-term USD-BRL upside
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