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The Peso remains a lottery - with an election in 3 months and the continuing 'red under the bed' narrative.

When taken in conjunction with the big decline in Consumer Confidence which was reported a fortnight ago, there are reasons for concern.

Amidst an environment where we see both analysts and overseas agents increasing their growth recommendations for both 2021 & 2022.

Monday saw the latest surveys released by Fedesarrollo - the Financial Opinion Survey (FOS) & Stock Market Confidence Indices (SMCI) - for the month of June. The overall confidence number stands at 96.97% which is up 5.1% from May - breaking that down we see other improvements.