The drama continues. Las week, there was much buzz surrounding Mexico’s relationship with the US and the upcoming renegotiations of NAFTA. The Mexican peso is still in everyone’s mind although it appears that Mexico is an attractive market nonetheless. Meanwhile, OEMs are going through highs and lows, and a new merger might be forming in the horizon.
Thanks to Sebastian Vettel’s success in Formula 1, Ferrari is riding high in the Milan stock market.
Ford is expecting cuts of more than US$1 billion in its 2017 revenue and most of them will be during Q1.
FCA’s Marchionne and VW’s Mueller are playing hard to get, after FCA-VW merger talks started to brew.
Bloomberg sees Mexico as the most attractive emerging market, followed by Turkey and Chile.
Agustín Carstens, Governor of Mexico’s central bank, thinks the peso is still undervalued by 10 percent even taking into account the uncertainty lingering between Mexico and the US.
Minister of Foreign Relations Luis Videgaray says Mexico is prepared to walk away from NAFTA and start playing by WTO rules.