Mexico ETFs On Watch As Trump Renews Wall Threats

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August 28, 2017 6:26am NYSE:EWW

NYSE:EWW | News, Ratings, and Charts

From Tyler Durden: While much of Trump’s Sunday tweets have focused on the government response to the devastation resulting from the historic Texas and Houston flooding as Tropical Storm Harvey is expected to unleash as much as 40 inches of rain, the US president managed to sneak in a few threats to his North American neighbors.

Trump reiterated what he has periodically said, most recently last week, that the U.S. may cancel the North American Free Trade Agreement.

Trump also said that “with Mexico being one of the highest crime Nations in the world, we must have THE WALL. Mexico will pay for it through reimbursement/other.”

And while Mexico again repeated that it would in no way, shape or form pay of the wall…


… the market’s initial reaction has not been kind to the Mexican currency, and in early Sunday trading USD/MXN spiked in reaction to Trump threatening Twitter comments, rising as much as 0.8% to 17.7504 before settling around 17.667 as once again the fate of NAFTA appears to be in jeopardy based on nothing more than one angry Trump tweet.

The iShares MSCI Mexico Inv. Mt. Idx. ETF (NYSE:EWW) was unchanged in premarket trading Monday. Year-to-date, EWW has gained 32.47%, versus a 10.42% rise in the benchmark S&P 500 index during the same period.

EWW currently has an ETF Daily News SMART Grade of A (Strong Buy), and is ranked #2 of 23 ETFs in the Latin America ETFs category.

This article is brought to you courtesy of ZeroHedge.

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