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Local Stock Exchange Reopens After Independence Day Holiday.

MEXICO
  • Greenback strength dragged USDMXN off its lows yesterday and the pair has consolidated around 19.95. Weekly range so far of 19.85-19.97 reflects the independence holiday local market closures as well as the lack of meaningful newsflow.
  • Markets may expect a continuation of the subdued price action to start next week ahead of Wednesday FOMC decision/statement and Thursday's Bi-Weekly CPI data which will be the final inflation readings before the September 30 Banxico decision.
  • Presidents and heads of state begin to arrive ahead of the 6th Summit of the Community of Latin American and Caribbean States, known as Celac, on Saturday.
  • President AMLO called on the U.S. to end its economic embargo of Cuba, El Financiero reports.
    • It seems that the U.S. uses the blockade to impede the well-being of the Cuban people so that, forced by necessity, they confront the government, AMLO said during a speech, according to the newspaper.

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