FYI tomorrow July 1st is Mexico election day. It happens once every 6 years.
The polls front runner Lopez Obrador ran the last two elections, lost and demanded a recount. He, unlike mayority of politicians here is not rich or is elitist, he is a simple man who hopes to dethrone the powers that be in Mexican government. Gov. does not like him, corporatons do not like him, the market doesnt like him. He vows to change the corupt ways of Mexico and most fear of what he will do if he finally wins.
Mexican peso slid in fears of his growing lead. USD has been strong against it. Peso does nothing to move USD but I see dollar dropping against peso.
Why…Mexico has a weird rule. Electoral cards (INE) are the offical ID; therefore, all adults require one. If anyone with an INE does not vote…their vote will automatically go to the current party in Presidential office in this case PRI. Can you see what can happen? Talk about monopoly.
There is no reelection and the PRI candidate is in third place on polls a real loser at best. But this rule might have yet another…recount.
AMLO as he is known would be good for Mexico. For one he intends to negotiate with Trump easing trade wars on this continent and maybe paving the way for end of trade wars and hopes to convince him that rather build a wall to help foster growth in Mexico.
Keep vigilant this week of this news when trading. Again this is just FYI.