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Retail Sales Data Due Friday, Reports On Oil Hedge

MEXICO
  • According to a Bloomberg report, Mexico has been conducting its annual oil-export hedging program, and the hedging process for next year’s oil exports is likely close to completion or already over, according to people with knowledge of the transactions, including those involved in the deals in the past. (Bloomberg)
    • Interestingly, Deputy Finance Minister Gabriel Yorio said that the country has a hedge strategy to respond to volatility in oil prices, according to remarks made before lawmakers at Congress on Wednesday.
  • Mexico’s central bank will sell up to 20 billion pesos of Bondes F in an auction today.
  • A quiet local calendar this week sees August retail sales headline on Friday.

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