Boletin Solo Negocios

Solo Negocios Bulletin 28/11/2017

Solo Negocios Bulletin

i

Date

November 28, 2017

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Solo Negocios Tip Today, in the Solo Negocios Bulletin, macroeconomic and financial indicators resulting in depreciation for the Peso, mixed stock markets, Jerome Powell before the US Senate, global oil down. We issue also the Solo Negocios Tip. We hope all the SNB is useful for you; and remember that: It's not personal, it's just business!

In this version, we offer: SOLO NEGOCIOS TIP Communication Division comment on New Governor of Banxico ECONOMIC INDICATORS Foreign Exchange and Metal Markets Stock Exchange Market Money Market Energy Market Next Day Economic Agenda

SOLO NEGOCIOS CALENDAR 11/29/2017 to 12/01/2017 - IMEF: XLV IMEF Business Summit Merida 2017 NA NA NA NA Full Solo Negocios Calendar: http://bit.ly/2kr1Xpd SOLO NEGOCIOS MEDIA Solo Negocios Videoblog Facebook Twitter LinkedIn Solo Negocios Editorial Solo Negocios Bulletin Subscription

Communication Division comment on New Governor of Banxico The President of Mexico appointed Alejandro Díaz de León governor of Banxico, subject to Senate ratification, replacing Agustín Carstens, for period 1/12/2017 to 12/31/2021 with right to re-election. He was Banxico's Deputy Governor from 01/01/2017. He has a degree in Economics from ITAM and a Master's degree in Public and Private Administration from Yale; specialist in financial engineering and valuation of derivative instruments and fixed income. He was Director of BANCOMEXT, holder of Public Credit Unit in SHCP, Executive Member in PENSIONISSSTE and 16 years of professional career in Banxico in various positions. In the first words, he states that inflation may not fall as predicted and should focus on recent information to make decisions. The bank's main challenge is to redirect inflation to the 3% target, currently above 6%. The next monetary policy meeting is in December and a minimum rate increase of 25 basis points is forecast, currently at 7%. Characteristics expected in him include: maintaining a flexible exchange rate regime, because without it economic autonomy is lost; must seek political autonomy. One expectation is that Foreign Exchange Commission will disappear so it can autonomously determine the exchange rate policy and guarantee economic autonomy. Link: http://www.solonegocios.mx

E-mail: [email protected] Page 1 of 8


ECONOMIC INDICATORS Foreign Exchange and Metal Markets

Concept Buy Variation % Var.30 days % US Dollar National Average 17.77 0.02% -0.72% US Dollar Minimum National 17.35 At Monex US Dollar Maximum National 18.25 At HSBC Spread Minimum 0.50 @ HSBC Maximum Fix US Dollar Today 18.5379 -0.36% -2.82% US Dollar Interbank (48h.) 18.5705 0.12% -1.25% US Dollar Juarez Average 18.09 0.00% 3.58% Peso Futures (CME) December 2017 Pesos in USD 0.05366 0.06% 4.07% USD/pesos Conversion 18.6359 -0.06% -2.93% Canadian Dollar 14.58 0.04% -3.76% Brazilian Real 5.74 0.23% -4.08% Euro 22.11 0.03% -1.04% Sterling Pound 24.72 0.10% -1.48% Japanese Yen 0.1667 0.41% -1.46% Chinese Yuan 2.8104 -0.29% -2.09% Bitcoin 184,506.57 10.70% 77.94% Gold Ounce (international) 24,058.19 0.00% -0.41% Silver Ounce (international) 313.62 0.00% -2.18% Libertad Gold Ounce (MX) 21,650.00 0.00% 0.23% Libertad Silver Ounce (MX) 430.00 0.00% -1.15% Bloomberg Dollar Spot Index 1,161.34 0.05% Yield -8.28% Euro in USD (spot) 1.1849 -0.03% USD in Yen (spot) 111.2500 0.14% Sterling Pound in USD (spt) 1.3372 0.48% Yen in Euro (spot) 131.8300 0.07% Euro in Sterling Pound (spt) 0.8862 0.87% Yen Euros USD in Hong Kong Dollars(spt) 7.8031 0.04%

Sale 18.71 18.03 19.01 1.52 @ Scotiabank

+1d 18.5379 18.5765 19.09 0.05058 19.7707 14.58 5.75 22.12 24.74 0.1668 2.8119 184,506.57 24,058.19 313.62 26,413.00 557.00

Variation % Var.30 days % -0.14% -0.98% At Monex At Bancomer Average 0.94 -0.36% -2.82% 0.12% -1.26% 0.00% 3.95% December 2018 0.00% 3.80% 0.00% -3.66% -0.32% -3.76% -0.03% -4.08% -0.33% -1.04% -0.29% -1.47% 0.06% -1.46% -0.55% -2.08% 10.70% 77.94% 0.00% -0.41% 0.00% -2.18% 0.00% -0.46% 0.00% -1.94%

Technical Note The peso depreciates, pressures: + Moderate profit taking. + Political factor in Mexico. + Strength of the dollar, + 0.15%. + Substitute uncertainty in Banxico. + Oil goes down in the face of uncertainty due to OPEC meeting. + Indicators better than expected in the USA. + Consumer confidence index rises to 129.5 points in November (124 points expected). + Richmond Fed indicator, 30 points, well above the expected 14 points. + Expected definition of US tax reform Thursday. Support at 18.40 and resistance at 19.37 in the wholesale market. Various Currencies against Peso (spot or sale, 30 days in pesos; dates in Mexican format)

Various Currencies against US Dollar

$24.00

(spot, 30 days in US Dollar; dates in Mexican format)

$19.00

$0.0092

$1.40

$1.35

$14.00

$0.0090

$1.30 $1.25

$9.00

$0.0088

$1.20

$4.00 29/10/17

$1.15

$0.0086

$1.10

05/11/17

08/11/17

11/11/17

14/11/17

17/11/17

Sterling Pound

20/11/17

23/11/17

Linear (Yen)

26/11/17

Linear (Euros)

29/11/17

02/12/17

Linear (Sterling Pound)

03/11/17

08/11/17

13/11/17

18/11/17

23/11/17

Canadian Dollar

Real

Euro

Linear (Canadian Dollar)

Linear (Real)

Linear (Euro)

28/11/17

03/12/17

Graphs Peso / US Dollar Various Conversion

Interbank Exchange Rate Peso/US Dollar

Bank Spread

(spot or sale, 30 days in pesos, dates in Mexican format)

(sale, 12 months; dates in Mexican format)

(30 days, minimum, maximum and average)

$19.50

$1.80

4.00%

$19.30

$1.60

3.00%

$19.10

$1.40

$18.90

$1.20

$19.50

2.00% 1.00% $19.00

$1.00

$18.70

$20.00

0.00% $0.80

$18.50

-1.00%

$0.60 $18.30

$18.10 $17.90

$0.20

-3.00%

$0.00

-4.00%

$18.00

$17.50

$17.70 $17.50 29/10/17

$18.50

-2.00%

$0.40

03/11/17

08/11/17

13/11/17

18/11/17

23/11/17

28/11/17

03/12/17

Minimal Spread

Maximum Spread

Average Spread Lineal (Maximum Spread)

Banxico's Fix

Sale National Banking Average

Juarez Sale

Spread Mobility %

Lineal (Minimal Spread)

Linear (Banxico's Fix)

Linear (National Banking Average))

Linear (Juarez)

Lineal (Average Spread)

Lineal (Spread Mobility %)


$17.00 11/08/17

10/10/17

Sale Interbank

09/12/17

Linear (Sale Interbank)



ECONOMIC INDICATORS Stock Exchange Markets

Concept

Value

IPyC Mexican Stock Exchange VIMEX Volatility Index Canada, S&P/TSX Compound Index NYSE DJIA, USA NASDAQ, USA S&P500, USA VIX Volatility Index Brazil IVOBESPA Chile IPSA Argentina MERVAL Trend Average: America Trend Average: North America Trend Average: LATAM ISEQ, Ireland FTSE100, England AEX, Netherland BEL20, Belgium OMX, Denmark OSEAX, Norway DAX30, Germany SMI, Switzerland PSI20, Portugal IBEX35, Spain CAC40, France MIB, Italy GD.AT, Greece MICEX, Russia ESTX50, Europe EURONEXT 100, Europa Trend Average: Europe

Variation % America 47,229.16 -0.10% 12.15 0.00% 16,029.64 -0.08% 23,836.71 1.09% 6,912.36 0.49% 2,627.04 0.98% 10.03 1.62% 74,139.72 0.11% 5,061.20 0.57% 26,912.15 -0.78% 0.39% 0.40% -0.05% Europe 6,874.93 0.16% 7,460.65 1.04% 543.59 1.02% 3,985.66 0.36% 578.58 0.69% 882.69 0.32% 13,059.53 0.46% 9,320.44 0.61% 5,276.95 0.28% 10,144.40 0.81% 5,390.48 0.57% 22,291.77 0.52% 726.17 0.25% 2,149.45 0.17% 3,583.49 0.55% 1,043.61 0.65% 0.53%

Var.30 days%

Var.1 year%

-5.81% 0.00% 1.35% 3.65% 4.36% 2.64% -2.72% -2.71% -7.70% 1.09% -0.58% 1.03% -2.33%

-2.46% -16.89% 7.30% 31.36% 31.48% 22.69% -13.98% 15.65% 25.37% 59.75% 16.03% 12.25% 24.58%

1.33% -0.74% -0.55% -2.04% -1.11% 1.64% 0.50% 0.55% -3.19% -0.71% 0.54% -0.21% -4.67% 2.72% -0.67% -0.60% -0.45%

17.74% 6.92% 18.60% 11.79% 11.65% 27.50% 21.93% 16.51% NA 17.63% 18.84% NA NA NA 19.36% 18.94% 17.28%

Concept

Value Africa 14,537.00 192.59 3,308.95

CASE30, Egypt S&P, Africa FTSE, Africa Trend Average: Africa

Asia 1,292.38 1,588.44 33,618.59 3,333.66 10,707.07 29,680.85 2,514.19 22,486.24 3,442.35 5,984.30

TA100, Israel DJGCC, Middle East BSESN, India SSE, China TSEC, Taiwan Hang Seng, Hong Kong Kospi, South Korea Nikkei225, Japan STI, Singapore AXJO, Australia Trend Average: Asia

Variation %

Var.30 days%

Var.1 year%

2.23% 0.38% 0.00% 0.87%

1.48% 0.00% 0.00% 2.98%

NA NA NA NA

0.00% 0.00% -0.31% 0.34% -0.41% -0.02% 0.25% -0.04% 0.17% -0.19% 0.87%

0.00% 0.00% 3.10% -1.14% -0.15% 3.43% 1.20% 5.39% 3.40% 1.62% 2.98%

NA NA 21.62% 8.90% 16.14% 26.98% 23.67% 30.85% NA 10.20% NA

Mexican Stock Exchange (1 year, daily results, 30 days trend; dates in Mexican format) 53,000.00 52,000.00 51,000.00 50,000.00 49,000.00 48,000.00 47,000.00 46,000.00 45,000.00 44,000.00 29/11/16

29/12/16

28/01/17

27/02/17

29/03/17

28/04/17

28/05/17 BMV

27/06/17

27/07/17

26/08/17

25/09/17

25/10/17

24/11/17

24/12/17

26/08/17

25/09/17

25/10/17

24/11/17

24/12/17

Linear (BMV)

Dow Jones Industrial Average

Stock Exchanges

(1 year, daily results, 30 days trend)

(30 days, daily results, various stock exchanges, and 5 days trend; dates in Mexican format) 88,000.00

14,000.00

24,500.00

78,000.00

13,000.00

23,500.00

12,000.00

68,000.00

22,500.00 11,000.00

58,000.00 10,000.00 48,000.00 38,000.00 28,000.00

20,500.00

8,000.00

19,500.00

7,000.00

18,000.00

21,500.00

9,000.00

18,500.00

6,000.00 29/10/17

08/11/17

18/11/17

28/11/17

BMV

DJIA

BOVESPA

NIKKEI225

FTSE100

DAX30

Linear (BMV)

Linear (DJIA)

Linear (Bovespa)

Linear (Nikkei225)

Linear (FTSE100)

Linear (DAX30)


17,500.00 29/11/16

29/12/16

28/01/17

27/02/17

29/03/17

28/04/17

28/05/17 DJIA

27/06/17

27/07/17

Linear (DJIA)



Stock Exchange Markets (continue) Stock Exchanges

Regional Trends

(30 days, percentage movements, dates in Mexican format)

(30 days, registered regions percentage movements; dates on Mexican format)

8.00%

2.00%

1.50%

6.00%

1.00% 4.00%

0.50% 2.00% 0.00% 0.00% -0.50%

-2.00% -1.00%

-4.00%

-1.50%

-2.00%

-6.00% 29/10/17

03/11/17

08/11/17 BMV

DJIA

13/11/17 BOVESPA

FTSE100

18/11/17 DAX30

23/11/17

28/11/17

30/10/17

04/11/17

09/11/17 America

NIKKEI225

North America

14/11/17 LATAM

19/11/17 Europe

Africa

24/11/17 Asia

Technical Note

- Mexico. IPyC closed with loss with third consecutive month of losses, winning Kimberly Clark of Mexico, Genomma Lab Internacional and Grupo Financiero Inbursa, Bajan Grupo Televisa, Grupo Financiero Banorte, and Cuervo. - Argentina. The market closed with low. - Brazil. The market closed up with consumption, finance, and telecommunications sectors. - Chile. The market closed with a rise due to opportunity purchases in leaders after it closed on the eve at its lowest level in 4 months. - Colombia. The market closed down with industry sectors, COL Inversionist, and services. - Peru. The market closed down with S & P Lima Juniors, mining, and food and beverages. - Canada. The market closed down with health, telecommunications, and real estate investment companies. - USA. The markets closed with a rise towards new records, in a context of confidence due to the perception of the labor market, and the intervention of Jerome Powell, who ratified a possible rate hike. Winners of the S & P500 are O'Reilly Automotive Inc. and Acuity Brands Inc. - Europe. Markets closed higher with wind turbine manufacturers and Royal Dutch Shell, with confidence in the energy sector. - Asia. The markets closed with ups and downs, due to the possibility of North Korea launching a ballistic missile. In China, markets rise.




ECONOMIC INDICATORS Money Market

Concept Interest Rate Target TIIE28 TIIE182 Average Percent Cost (rate) CETES28 CETES182 CETES364 30 year Bond International Reserves (mdd) Monetary Base (M1) (mdp) UDIS UMA Monthly Prices Index General NCPI Underlying NCPI No Underlying NCPI Juarez CPI Total NPPI Final NPPI Intermediate NPPI Biweekly Price Index General NCPI Underlying NCPI No Underlying NCPI Concept Interest Rate Target Interest Rate Target (effective) Bank Prime Loan T-Bill(4wk) International Reserves (md) Monetary Base (M1) (md)

Rate 7.00% 7.3825% 7.5390% 4.6600% 7.01% term 7.21% term 7.27% term 7.60% term 172,749 1,392,337 5.879750 daily Date 11/9/17 Period Oct 2017 Date 11/22/17 Period 1Q Nov 2017 Rate 1.00 - 1.25% 1.16% 4.25% 1.12% 3,367.9

Monthly Prices Index Date CPI 11/15/17 CPI Food & Beverages Period CPI (no F&B) dic-16 Final (no adjusted) 11/14/17 Final (adjusted) Period Final (no food/energy/commerce.na) Oct-17 Intermediate Process (n.a.)


-

-

Variation Unit/Period points points 0.0372 points 0.0010 points 0.0001 points 28 days amount 0.0004 points 175 days amount 0.0009 points 336 days amount 0.0041 points 10969 días amount 77.30 mdd 20,133.90 mdp 0.003569 points 75.49 annual Monthly Pt. Variation 0.63% 0.0032 0.25% 0.0003 1.76% 0.0135 0.30% 0.0005 0.94% 0.0080 0.99% 0.0084 0.82% 0.0072 Biweekly Pt. Variation 0.92% 0.0072 0.28% 0.0015 2.79% 0.0240 USA Variation Unit/Period points points points points 6.63% Monthly -0.06% 0.15% 0.28% 0.53% 0.44% 0.47% 0.47%

Mexico Graphs Date 11/28/17 CETES and Bonds Interbank Rates 11/28/17 11/28/17 11/28/17 11/28/17 7000 mp TIIE28 TIIE182 Linear (TIIE28) 11/28/17 Linear (TIIE182) Lineal (TIIE182) CETES28 CETES182 CETES364 11500 mp Bonos30 Lineal (CETES28) Lineal (CETES182) 11/28/17 Lineal (CETES364) Lineal (CETES364) Lineal (Bonos30) Objective Rate and APC 12500 mp Annual Inflation 11/28/17 (12 months) 3500 mp 14.00% 12.00% 11/24/17 10.00% 11/24/17 8.00% 6.00% 11/28/17 Target Rate APC Linear (Objecctive Rate) Linear (APC) 4.00% 27,538.75 2.00% Annual Pt. Variation This Year Pt. Variation 6.37% 0.0002 5.06% 0.0066 NCPI General Underlying No Underlying 4.77% 0.0003 4.07% 0.0026 11.40% 0.0012 8.10% 0.0187 Technical Note 6.88% 0.0018 3.95% 0.0032 5.27% 0.0077 2.99% 0.0096 5.03% 0.0085 2.87% 0.0101 5.83% 0.0057 3.26% 0.0084 The Fed must "respond decisively" to any crisis, Annual Pt. Variation This Year Pt. Variation 6.59% 0.0015 6.06% 0.0096 according to the nominee President Jerome 4.85% 0.0005 4.40% 0.0029 Powell, heir to the policies of current President 11.98% 0.0035 11.14% 0.0302 Janet Yellen and previous, Ben Bernanke. (90 days)

(30 days)

8.00%

7.60%

7.80%

7.55%

7.50%

7.60%

7.45%

7.40%

7.40%

7.35% 30/10/2017

7.20%

04/11/2017

09/11/2017

14/11/2017

19/11/2017

24/11/2017

29/11/2017

7.00%

6.80% 17/09/2017

17/10/2017

16/11/2017

(365 days)

8.00%

7.00% 6.00%

5.00% 4.00% 3.00%

2.00% 29/11/2016

28/02/2017

Date

31/05/2017

31/08/2017

Graph USA Rates

11/27/17

(3 months) 1.20% 1.10% 1.00%

0.90%

md, annual

feb-17

Pt. Variation -0.0059 -0.0005 0.0009 0.0017 0.0000 0.0047 0.0005

Annual 2.04% 1.41% 1.77% 3.07% 2.71% 2.22% 4.89%

0.80% 09/09/2017

24/09/2017

Target Rate

Pt. Variation -0.0019 0.0006 0.0008 0.0054 0.0017 0.0029 0.0071

09/10/2017

24/10/2017

Effective Rate

This Year 2.17% 1.64% 1.81% 2.89% 2.34% -4.93% 4.66%

30/11/2017

In a confirmation hearing before the Senate, he endorsed ideas used since the crisis of 2007 to 2009: he exalts aggressively advancing against recession and flexibility and independence from political influence. He defended the need to soften regulation in the Tbill 4wk financial sector, ensuring that it is time to at Pt. Variation least review what has been done. He wants to -0.0006 be sure that regulations are tailored to the size 0.0015 and role of institutions. He declined to 0.0028 comment on US tax reform. 0.0054 0.0045 0.0045 0.0049 08/11/2017

23/11/2017



ECONOMIC INDICATORS Energy Market

Concept Mexican Crude Oil Basket West Texas Intermediate Brent from North Sea OPEP Reference Basket Intl. Natural Gas (USD/MMBtu) MX Natural Gas avg.(MXN/GJ) Liquefied oil gas (MXN/kg) Mexico (MXN) National: Magna (avg +1 d) National: Premium (avg +1 d) National: Diesel (avg +1 d) V zone: CJS - Magna V zone: CJS - Magna (stim) V zone: CJS - Premium V zone: CJS - Premium (stim) V zone: CJS - Diesel V zone: CJS - Diesel (stim) USA (MXN Fix basis) TX-avg: Regular 87 TX-avg: Premium >90 TX-avg: Diesel Ultralow TX-Hou: Regular 87 TX-Hou: Premium >90

Hydrocarbon Market USD/b Variation $ Variation % 53.91 0.05 0.1% 57.99 0.12 -0.2% 63.84 0.0% 61.51 0.13 -0.2% 3.07 0.15 4.99% NA NA NA NA NA NA Motor Gasoline (consumer prices) Price/lt Variation % Var. % Annual 16.18 0.00% NA 17.89 0.00% NA 17.09 0.00% NA 15.98 0.00% NA 12.57 0.00% NA 18.13 0.00% NA 15.27 0.00% NA 17.09 0.00% NA 17.10 0.00% NA Price/lt Variation % Var. % Annual 13.34 -0.90% 33.90% 15.77 -0.60% 26.28% 13.92 1.22% 22.20% 11.36 -0.54% 15.99% 14.13 -0.01% 11.48% Technical Notes

Graphs Var. Annual % 26.71% 18.81% 24.44% 27.04% 5.09% NA NA

11/17/17

Product Crude Oil Input to Refineries Refinery Capacity Utilization (%) Motor Gasoline Production Distillate Fuel Oil Production Product Crude Oil (Excluding SPR) Motor Gasoline Distillate Fuel Oil All Other Oils Crude Oil in SPR Total


Next

11/24/17 Refinery Activity Value Variation 16,449.00 203.00 0.90 0.01 10,160.00 125.00 5,200.00 135.00 Inventories Value Variation 457.10 1.90 210.50 0.10 125.00 0.20 467.10 1.50 687.50 18.30 1,947.20 18.20

(1 year, USD)

70.00 65.00 60.00 55.00 50.00 45.00 40.00 35.00 28/11/2016

28/02/2017

Date

WTI

Brent

31/05/2017 MME

OPEP

31/08/2017

Linear (WTI)

Linear (Brent)

Unit million barrels million barrels million barrels million barrels million barrels million barrels

Linear (OPEP)

Natural Gas Price (1 year, MM/Btu USD)

3.90 3.70

11/28/17

3.50 3.30 3.10 2.90 2.70 2.50 28/11/2016

28/02/2017

31/05/2017

GN/NG

Date 9/11/17

31/08/2017

30/11/2017

Linear (NG)

Motor Gasoline: USA (left) vs Mexico (righta) (4 months, MXN Fix per litre) 17.00 16.00 15.00 14.00 13.00 12.00 11.00 10.00

19.00 18.00 17.00 16.00 15.00 14.00

Regular Premium MX

Premium >90 Diésel MX

Lineal (Magna MX)

Lineal (Magna MX)

Diésel Ultra Bajo Azufre

Magna MX

Lineal (Premium >90) Lineal (Premium MX)

Lineal (Diésel Ultra Bajo Azufre)

USA Energy Information Administration Technical Notes Unit 1000s daily barrels points 1000s daily barrels 1000s daily barrels

30/11/2017

Linear (MME)

4.10

The oil goes down. OPEC and Russia would achieve OPEC extension throughout 2018, but with the option to review in June, given the concern of possible overheating. But, it has been suggested that it only reach June. Russia is looking for high crude prices before the presidential election in March 2018, but that could lead the ruble to raise its price and lose competitiveness in its nation. Last

Oil Baskets Prices

Lineal (Diésel MX)

Graphs USA Inventories (4 months, million of barrels)

US commercial oil inventories (wo/SR) decreased last week and are in upper half of average range. Total motor gasoline unchanged and are in middle of average range. Finished gasoline increased, blending components decreased. Distillate fuel increased and are in lower half of average range. Propane/propylene decreased and are in lower half of average range. Total inventories remained unchanged last week.

800 700 600 500 400 300 200 100

Crude Oil (wo/SPR)

Motor Gasoline

All Other Oils

Crude Oil in SPR

Distillate Fuel Oil



Wednesday, November 29, 2017 - Previous Australia Various housing and construction Capex companies (Quarterly) (3Q) 2.70% NVAS investments PRI capital goods (Q3) 0.80% CRE sector PRI (Monthly) (Oct) 0.30% Brazil INFL IGP-M (Monthly) (Nov) 0.20% REL debt-GDP (Oct) 50.90% Budget BAL -53.309B, Surplus (Oct) -21.259B FLU foreign currencies -2.01B Chile PROD copper (Annual) (Oct) 4.40% ACT IND (Annual) (Oct) -1.40% China PMI MNF (Nov) 51.6 and non-manufacturing (Nov) 54.3 USA Several mortgage MBAs Benefits CORP (3T) 0.10% GDP (3Q) 3.00% Indicator prices of goods and services in GDP (Q3) 2.10% Actual expenditure CONS (3T) 2.40% Various AIE Eurozone CONS FRA Expenditure (Monthly) (Oct) 0.90% FRA GDP (3Q) 0.50% Harmonized INFL of ESP (Annual) (Nov) 1.70% Confidence of companies and consumers in the eurozone (Nov) 114


NEXT DAY ECONOMIC AGENDA

Indonesia Monetary mass M2 (Annual) (Oct) 10.90% Japan Purchases of foreign bonds 231.3B Foreign investment in Japanese stocks -324.5B Industrial activity (Monthly) (Oct) -1.00% Forecasts of industrial activity a month ahead (Monthly) (Nov) 4.70% Forecasts of industrial activity two months ahead (Monthly) (Dec) -0.90% Construction orders (Annual) (Oct) -11.60% Start of residential construction (Annual) (Oct) -2.90% New Zealand Construction orders (Monthly) (Oct) -2.30% ANZ indicator of business confidence (Nov) -10.1 Business expectations of the National Bank of New Zealand (Nov) 22.20% United Kingdom Bank of England consumer credit (Oct) 1,606B Monetary mass M4 (Monthly) (Oct) -0.20% Mortgage granting (Oct) 66.23K Mortgage concessions (Oct) 3.85B GfK indicator of consumer confidence (Nov) -10 Switzerland Consumption indicator (Oct) 1.56 ZEW indicator of economic expectations (Nov) 32



SOLO NEGOCIOS CALENDAR Mexican Financial Executives Institute, invites: XLV IMEF Business Summit Merida 2017 Invest for Transformation - Global Trends From November 29 to December 2, Fiesta Americana Merida Hotel Latin American markets situation, business transformation, social mood and Mexican political transition, as well as risks and opportunities to invest in the region. More information: http://imefbs.org.mx.

