Free Trial

August Retail Sales Due, USDMXN Pressing Highs

MEXICO
  • Retail sales in August are expected to have grown on the month, but the annual reading is expected to have decelerated from the July print, according to economists surveyed by Bloomberg. Data is released at 1300BST/0800ET:
    • Aug. Retail Sales M/m, est. 0.2%, prior 0.2%
    • Aug. Retail Sales Y/y, est. 4.4%, prior 5.1%
  • Despite the overall greenback weakness on Thursday and the marginally positive news that three airport operators and the government came to an accord on tariffs, USDMXN finds itself close to the most recent highs around 18.40. Sights are on $18.6172, the 76.4% retracement of the Mar 20 - Jul 28 downleg. A break of this level would open up the potential for a move towards 19.2322, the Mar 20 high.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.