Tag: Latin America

Latin America

Crypto-Assets: Too Big to Ignore, Too Challenging to Trade?

Although cryptocurrencies have become too big for institutional investors to ignore, there are still significant barriers deterring them from entering the crypto space, said speakers at Profit & Loss’ 2018 Latin America conference in Mexico City.

Speaking on a panel at the event, Michael Moro, the CEO of Genesis Trading, argued that a lot of traditional financial services firms were caught out by both the popularity and the longevity of crypto-assets.

“I believe that – especially in the US – that the major institutions got caught. I don’t believe they ever wanted to deal in cryptos, they thought it was a fad or a ponzi scheme and were waiting for the bubble to burst and the whole thing to go away.

How Long Can the MXN Rally Last?

Galen Stops looks at the drivers behind the appreciation of the Mexican peso and asks whether the rally can continue.

Few, if any, saw this coming.

After Donald Trump won the US presidential race in November 2016, USD/MXN went from 18.03 up to 20.89, and by the time of his inauguration in January 2017, the exchange rate was up to 21.58.

This depreciation of the peso seemed eminently reasonable at the time, given that on the campaign trail Trump had promised to renegotiate the North American Free Trade Agreement (Nafta) in America’s favour or terminate the agreement altogether, not to mention building a border wall between the US and Mexico at the latter’s expense.

Peso Likely to Reflect Economic Uncertainties in Mexico

Uncertainty regarding both financial conditions within Mexico and geopolitical developments internationally is making it hard to predict how the peso will fare in 2017.

Speaking at Profit & Loss Latin America, which took place on February 9 in Mexico City, economic experts warned that there are numerous variables that could impact the value of the Mexican currency this year, making accurate forecasts challenging.

“Uncertainty will be the name of the game this year,” explained Daniela Blancas, a financial market economist at CitiBanamex.

Four Days to Profit & Loss Latin America 2017

What (and who) will play a major role in Mexico’s economy this year?
How will Mexico’s economy perform against numerous geopolitical challenges in 2017? This will be the central topic during the opening panel, Mexico’s Economy: Riding the Storm, at the 9th annual Profit & Loss Latin America conference on February 9 at the St Regis in Mexico City.
The panel will follow an opening keynote address from Juan Garcia, Director of Domestic Operations, Banco de Mexico, and is part of a busy line up on Thursday (February 9).
With panels looking at the impact of clearing, the challenge of liquidity and the impact of technology in regional markets, there is plenty for everyone so be sure to Register today to ensure your seat for this timely and important discussion.
View the full day’s agenda here and make your plans now to network with colleagues, industry leaders and FX professionals during a day filled with insight and key knowledge about the industry.