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Retail Sales Data Due, Greenback Strength Weighs On MXN

MEXICO
  • USDMXN has risen in line with the broad greenback strength over the last 24 hours. Despite bearish technical conditions being bolstered over recent weeks the focus now turns to key short-term resistance that has been defined at 20.8335, the Aug 3 high. Initial resistance is at 20.5004, Aug 4 high.
  • Retail sales likely rose 5.0% in June from a year earlier. A small 0.2% increase is expected for the monthly reading after growth of 0.5% prior and gains in the previous 10 months.
  • State oil company PEMEX and workers union STPRM agreed to a 4% salary increase and a 2.25% boost to benefits, according to a company statement.
  • Mexico’s Finance Ministry sold 158b pesos of Bondes F in a swap auction to extend maturities, according to a central bank announcement.
  • A judge suspended the liquidation of non-bank lender Credito Real SAB in Mexico at the request of a shareholder, as some of the company’s creditors look for it to file Chapter 11 bankruptcy in the US. (Bloomberg)
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