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December Retail Sales Data Due

MEXICO
  • USDMXN continues to trade in a very tight range since the open this week amid yesterday’s US holiday and multiple Latin American market closures potentially impacting market volatility. The key data this week is Thursday’s bi-weekly CPI report and Banxico’s minutes for the February meeting will also be released. However, at the top of the hour we will see December retail sales data:
    • Dec. Retail Sales MoM, est. -0.1%, prior -0.2%
    • Dec. Retail Sales YoY, est. 3.2%, prior 2.4%
  • Mexico’s superior auditor of the federation, known as ASF, detected possible irregularities in the 2021 public account for 64.8b pesos, most of them committed by states and local governments, Milenio reported. States and local governments committed 83% of possible irregularities for 53.8b pesos, according to Milenio.

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