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May CPI Data Due Thursday, BBVA Regional Board Meeting

MEXICO
  • The highlight of the domestic calendar this week is Thursday’s release of May CPI where the headline rate of inflation is expected to drop to 5.89% and core inflation should clock in at 7.40%. The next Banxico decision takes place on June 22.
  • The USDMXN downtrend remains intact. Price action is hovering at the bear trigger at 17.4207, May 15 low. This level was pierced on Friday, a clear break would confirm a resumption of the downtrend and open 17.0507, the Apr 29 2016 low.
  • BBVA Mexico kicks off meeting of regional board members at 8:30am local time. Speakers include BBVA Chairman Carlos Torres Vila, BBVA Mexico CEO Eduardo Osuna and Finance Minister Rogelio Ramirez de la O.

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