Harris: A boost for the Mexican peso
Kamala Harris, the Democratic candidate, presented an economic plan that follows the line of her predecessor, Joe Biden, with a focus on the massive public spending. This strategy could consolidate the growth of the Gross Domestic Product (GDP) of the United States and maintain the trend of nearshoringwhere companies move their operations to nearby countries such as Mexico.
Although Harris has not shown sympathy for NAFTA in the past, we would not anticipate major changes to the USMCA during the 2026 review. This would allow the current trend of nearshoring to continue, thus continuing to boost Mexican exports and Foreign Direct Investment.
Monex
Monex estimates that if Harris wins the presidency, the Mexican peso could benefit, trading in a range of $18.50 to $20.00 in the coming year.
This is because economic stability and growth in the United States under his administration could improve bilateral trade relations and encourage foreign direct investment (FDI) in Mexico. In addition, continuity in the current immigration policy would guarantee a constant flow of remittances, another positive factor for the peso.
However, this positive scenario is not without risks. Increased public spending could generate inflationary pressures, both in the United States and in Mexico, affecting the exchange rate.
