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MEXICO: Inflation/GDP Data, Banxico Minutes Due

MEXICO
  • A much more stable session for USDMXN so far on Thursday, however, the pair continues to operate at very elevated levels following the substantial peso weakness this week. Domestic concerns, both politically and surrounding the economic data, have prompted the impressive rally from around 18.60 to current levels above 19.30.
  • A very busy day for local event risk, with the latest economic activity data due as well as revisions to Q2 GDP. Inflation data is released alongside the growth figures at 1300BST/0800ET, before Banxico minutes later in the day:
    • 2Q GDP QoQ, est. 0.2%, YoY est. 2.2%
    • June Economic Activity IGAE YoY, est. -0.05%, prior 1.57%
    • Aug. Bi-Weekly CPI, est. 0.12%, prior 0.14%
    • Aug. Bi-Weekly CPI YoY, est. 5.31%, prior 5.52%
    • Aug. Bi- Weekly Core CPI, est. 0.19%, prior 0.14%
    • Aug. Bi-Weekly Core CPI YoY, est. 4.08%, prior 4.08%

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