Daily digest market movers: Mexican Peso weakens on Independence Day
- USD/MXN would continue to be driven by market mood and expectations for a bigger Fed rate cut.
- Mexico’s Inflation dipped below 5% in August, increasing the chances of additional easing by Banxico.
- Bank of Mexico Director of Economic Research, Alejandria Salcedo, said that a robust rule of law environment could generate conditions that encourage investment.
- Wall Street economists estimate that US Retail Sales will dip from 1% to 0.2% MoM.
- US Industrial Production is foreseen improving from July’s -0.6% contraction to 0%.
- Data from the Chicago Board of Trade suggests the Fed will cut at least 112 basis points this year, according to the fed funds rate futures contract for December 2024.
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