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Economic Activity & Unemployment Rate Data Scheduled

PERU
  • Headlines were dominated on Wednesday by President Boluarte’s cabinet reshuffle that included new Finance and Energy & Mines ministers. As a reminder, Goldman Sachs noted the appointment of Arista as finance minister may be perceived as a market positive event. They note that he not only espouses business-friendly views, but also has some political influence of his own to steer the government’s agenda in congress, including the pension reform bill and new taxes.
  • Newly appointed Energy and Mines Minister Rómulo Mucho Mamani indicated that, during his administration, he will promote the unblocking of important mining projects, since the development of this industry generates progress, work and development in the regions and is of vital importance for the State.
  • Regional currencies were buoyed on Wednesday in general, however, the news may have provided an additional PEN tailwind that halted the most recent USDPEN rally. Economic data due today with no specific times on the calendar:
    • Jan. Lima Unemployment Rate, est. 6.9%, prior 6.4%
    • Dec. Economic Activity YoY, est. 0.4%, prior 0.3%

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