• The Mexican Peso gave back 0.6% against the US Dollar on Monday.
• Mexico has limited representation on the economic calendar this week.
• Jackson Hole looms large in the week ahead alongside US PMI figures.

The Mexican Peso (MXN) returned six-tenths of one percent to Greenback bidders on Monday, paring back recent gains as Peso bulls took a breather. The US Dollar is broadly softer across the board to kick off the new trading week, but recent Peso-positive flows have briefly reversed direction.

Mexico has a scant release schedule on this week’s data docket, and all figures slated to print this week on the Peso side are strictly low-tier numbers. Mexican Retail Sales for the year ended in June are due on Tuesday, and are expected to contract by 1.8% YoY compared to the previous 0.3% growth. 

Fortnightly headline and core Mexico inflation figures are due on Thursday. Core Inflation is forecast to tick up slightly to 0.19% from 0.18% in the first half of August, while headline Inflation is forecast to slump to 0.13% over the same period, down sharply from the previous 0.71%.