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BRL Underperforms Despite BCB Intervention, Busy Central Bank Schedule

LATAM
  • The Brazilian Real was the clear underperformer on Friday in a session where LatAm FX performed well and despite the intervention from the BCB via a spot USD auction.
  • Monday’s docket is headlined by the BCB’s Focus survey before a busy week of central bank minutes and meetings.
  • Copom minutes due Tuesday before the BCCh decision. Banxico will publish their rate decision and statement on Thursday before the week rounds off with a BanRep announcement on Friday.
    • USDMXN down 0.19% at 20.9203
    • USDBRL up 0.6% at 5.6135
    • USDCLP down 0.71% at 842.25
    • USDCOP down 0.04% at 3901.3
    • USDPEN down 0.5% at 4.0594
    • BBG Dollar Index down 0.09% at 1181.19
    • S&P E-Mini Future up 25.75 points (0.55%) at 4685.5
    • WTI Crude Oil (front-month) up $0.87 (1.23%) at $71.82

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