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- A minor uptick in the greenback sees a small boost for USDMXN overnight back to around 20.25. Late yesterday, Mexico analysts raised 2021 CPI estimate to 6.50% Vs. 6.31% in the latest Citibanamex survey, also still expecting a 25bps rate hike at the November Banxico meeting.
- Today we will see August retail sales where the monthly figure is expected to have fallen:
- 1200BST/0700ET: Mex August Retail Sales – Estimate -0.5% m/m; Prior -0.4%
- 1200BST/0700ET: Mex August Retail Sales – Estimate 6.6% y/y; Prior 9.9%
- 2000BST1500ET: Banxico Governor Alejandro Diaz de Leon will speak at an event moderated by Chile central bank President Mario Marcel and hosted by the Universidad de Chile.
- In local news:
- Reported yesterday, Mexico and the International Monetary Fund are discussing a plan to reduce the nation's $63 billion precautionary credit line by 20% when it comes due for renewal next month, after economic risks from the global pandemic subsided. (BBG)
- Separately, Mexico's richest man, telecom and construction magnate Carlos Slim, reached an agreement with Mexico City authorities Wednesday to rebuild or reinforce an elevated subway line that collapsed in May, killing 26 people. (NP)