Peso Selloff Pauses As Mexican President Addresses US, Canada Relations, Targets Ambassadors Over 'Respect For Our Country'
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 28 2024
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Source: Benzinga
Mexican Peso Performance: The Mexican peso gained 0.5% against the U.S. dollar after President AMLO clarified that the pause in diplomatic relations with the U.S. and Canada only affects their ambassadors, while investor concerns about proposed judicial reforms continue to impact market sentiment.
Judicial Reform Concerns: AMLO plans to present a controversial judicial reform to Congress that would allow popular elections for judges, which critics argue could politicize the judiciary and threaten democracy, contributing to an uncertain investment outlook in Mexico.
Analyst Views on FLMX
Wall Street analysts forecast FLMX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FLMX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 36.950
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
