Offbeat Peso falls after leftist wins Mexican presidency in a landslide

17:34  02 july  2018
17:34  02 july  2018 Source:   cnbc.com

Mexican leftist's big lead narrows slightly: poll

  Mexican leftist's big lead narrows slightly: poll Mexican leftist candidate Andres Manuel Lopez Obrador's commanding lead over his closest rival narrowed slightly to 12 percentage points ahead of Sunday's presidential vote, according to a GEA/ISA poll published on Monday. The survey showed Lopez Obrador, a former mayor of Mexico City, with 35 percent of the preferences in a poll conducted between June 15 and 17, compared to 37 percent of a survey in late May.

and violence, the leftist Andrés Manuel López Obrador was elected president of Mexico on Sunday, in a landslide victory that upended the nation’s political In his third bid for the presidency , Mr. López Obrador, 64, won in what authorities called the largest election in Mexican history, with some 3,400

and violence, the leftist Andrés Manuel López Obrador was elected president of Mexico on Sunday, in a landslide victory that upended the nation’s political In his third bid for the presidency , Mr. López Obrador, 64, won in what authorities called the largest election in Mexican history, with some 3,400

The Mexican peso fell against the U.S. dollar on Monday after voters in the second-largest Latin American economy overwhelmingly voted in favor of a far-left candidate as its new president.

The peso pulled back 0.6 percent versus the dollar, erasing slight gains seen on Sunday, to trade at 20.032.

Andres Manuel Lopez Obrador, better known by his initials AMLO, received more than 50 percent of the vote in an election held Sunday. His two closest rivals only got about 23 percent and 15 percent of the vote respectively.

His victory, however, could lead to tougher negotiations between Mexico, the U.S. and Canada on a new NAFTA deal at a time when trade relations between the three countries are rising.

Twenty-eight Mexican police held over political murder: media

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Mexico has just elected its first leftist president in decades, with Andrés Manuel López Obrador (or AMLO) winning in a landslide and a near majority, or 49% of the vote according to early exit polls, and all his opponents promptly conceding defeat.

Andres Manuel Lopez Obrador decisively won Mexico 's presidency on Sunday, exit polls showed, setting the stage for the most left -wing government in Related Coverage. Mexican peso rallies as exit polls show Lopez Obrador win . Analyst View: Leftist wins Mexican election, exit polls show.

“In many ways, it’s going back to the era before NAFTA in Mexico,” Carlos Gutierrez, former U.S. Commerce secretary, told CNBC’s “Squawk Box” on Monday. “I don’t think he’s going to make the negotiations any easier because a lot of what he would like to do will bump up against NAFTA.”

“This is not a good event here,” Gutierrez said. “He’s not going to back away from his instincts, and his instincts are left-wing, populist, anti-multinational (companies), nationalist.”

Tensions between the U.S. and Mexico rose earlier this month after Mexico slapped tariffs on several U.S. agriculture products, including pork, cheese and apples. Mexico implemented the charges in retaliation for U.S. levies on Mexican steel and aluminum products.

AMLO headed into Sunday’s election with a massive lead over his opponents in the polls. His campaign gained momentum in part because of his pledge to fight widespread corruption plaguing the country.

Exclusive: Leftist seen as Mexico's next president after massive win - exit poll

  Exclusive: Leftist seen as Mexico's next president after massive win - exit poll Mexican leftist Andres Manuel Lopez Obrador is likely to be the country's next president, according to an exit poll by polling firm Parametria that pointed to a massive victory for him in Sunday's election.The exit poll showed the former Mexico City mayor winning between 53 percent and 59 percent of votes. Ricardo Anaya, who leads a left-right alliance, trailed Lopez Obrador in second place, with between 19 and 25 percent of votes, the poll found.

Andres Manuel Lopez Obrador decisively won Mexico 's presidency on Sunday, exit polls showed, setting the stage for the most left -wing government in Related Coverage. Mexican peso rallies as exit polls show Lopez Obrador win . Analyst View: Leftist wins Mexican election, exit polls show.

Leftist Andres Manuel Lopez Obrador has declared victory in Mexico 's presidential election, as preliminary results showed he had secured a landslide win . Mexican volcano erupts multiple times in a day. No way out: Drug cartels recruit kids for life. 007 inspired Day of the Dead parade.

Last week, he said “the country will be cleansed” of corruption, adding he would “pull up by its roots the corrupt regime,” which he blames for the country’s chronic violence and widespread poverty.

But despite his promises to fight these problems, investors have sold off Mexican stocks recently as they feared some of AMLO’s policies could cripple the economy. AMLO proposed during his campaign rolling back privatizations in the country’s oil industry as well as doubling pensions for the elderly during his campaign.

AMLO has also taken several shots at U.S. President Donald Trump. On Jan. 22, he said he would "put Trump in his place" if elected. He has also referred to Trump as “erratic and arrogant.”

However, AMLO struck a more conciliatory tone regarding the U.S. on Sunday, saying in a victory speech he would seek “friendly relations” with the U.S.

Trump also congratulated AMLO in a tweet, stating he looks forward to working with him.


Afghan villagers search for survivors after landslide destroys nearly 300 homes .
A landslide destroyed nearly 300 homes, killing at least 10 people, as it swept through an Afghan village where residents were using only basic digging tools to search for survivors, officials said. Two helicopters with a rescue team and emergency aid flew to the northeastern province of Panjshir where disaster struck on Wednesday night, officials said.Top priority was to save those trapped in the debris after the landslide hit Peshghor village in Khenj district, Omar Mohammadi, spokesman for the National Disaster Management Authority, said on Thursday.

Source: http://us.pressfrom.com/news/offbeat/-161412-peso-falls-after-leftist-wins-mexican-presidency-in-a-landslide/

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