Events affecting the Mexican economy this week:
- Durable goods orders in the US fell in June
- Auto production in Mexico has picked up
- The peso hit a 2 month high this week due to the fact that economic growth accelerated faster than expected (grew 8.9% in May, while 8.5% growth was expected)
- Cemex posted weak second quarter earnings, but investors were hopeful because for the first time in several quarters US cement volumes should grow (around 8-10%)
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