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Bi-Weekly CPI Inflation Due At 1300BST

MEXICO
  • Bi-weekly CPI data for the first half of July will be published at 1300BST(0800ET), with the market expecting the headline rate to rise further to 5.38% y/y, from 5.17%, even as core inflation continues to moderate to 4.02%. Meanwhile, President-elect Sheinbaum will hold a press conference at 1800BST(1300ET).
    • July Bi-Weekly CPI YoY, est. 5.38%, prior 5.17%
    • July Bi-Weekly CPI, est. 0.50%, prior 0.53%
    • July Bi-Weekly Core CPI YoY, est. 4.02%, prior 4.08%
    • July Bi-Weekly Core CPI, est. 0.18%, prior 0.13%
  • Ahead of the data, USDMXN has edged up by another 0.35% today to around 18.21, albeit that is down from an intra-day high at 18.2829 reached earlier. On the upside, most notable resistance is not found until 18.5988, the Jun 28 high.
  • In other news, Elon Musk has said that Tesla won’t invest further in its planned Mexico factory until after the US election, citing too much political risk from Republican nominee Donald Trump’s pledges to impose more tariffs on Mexico-made goods.
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