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Brazil Mid-Month Inflation Highlights The Docket

LATAM
  • The LatAm docket is highlighted by Brazil mid-May IPCA inflation where annual inflation is expected to creep up to 4.21% Y/y. In Mexico both trade balance and current account balance data is scheduled.
  • The tension around the US debt-limit negotiations ratcheted up after Fitch Ratings warned the nation’s AAA rating was under threat from a political standoff that’s preventing a deal. Fitch may downgrade its assessment to reflect the increased partisanship that is hindering a resolution.
  • The greenback trades well, with markets adopting a more cautious footing after the warning from Fitch late yesterday. The USD Index is firmer for a fourth consecutive session, tipping the measure to a new multi-month high.

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