Daily digest market movers: Mexican Peso appreciates as economy cools down
- Mexico’s National Statistics Agency revealed that GDP for Q2 2024 grew 2.2% YoY on its preliminary reading, above estimates of 2% and the previous quarter's 1.6% expansion.
- Mexico’s Deputy Finance Minister Gabriel Yorio said that public debt is expected at a level of 48.6% of GDP at the end of President Andres Manuel Lopez Obrador’s term.
- Last week, Mexico’s June Balance of Trade was $-1.073 billion, missing the consensus of $1 billion.
- US ADP Employment Change in July showed that private hiring rose by 122K, below the estimated 150K and missing the 155K created in June.
- The Employment Cost Index (ECI) decelerated from 1.2% to 0.9% QoQ, below forecasts of 1%.
- Pending Home Sales in the US increased 4.8% MoM in June, exceeding estimates of 1.5% growth following May’s -1.9% plunge.
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