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LATAM: Brazil Economic Activity, Chile Central Bank Minutes Due

LATAM
  • June economic activity for Brazil headlines the data docket before the release of Chile’s central bank minutes. Colombia trade data and Uruguay’s central bank decision cap of the week’s regional event risk. In the US, focus for the remainder of the Friday session turns to the prelim Uni of Michigan sentiment survey, at which both the 1 year and 5-10 year inflation expectations metrics are expected to moderate by 0.1 ppts. Housing starts and building permits data are also set to cross, as well as appearances from Fed's Goolsbee. 
  • The greenback is among the poorest performing G10 currencies so far Friday as the dollar retraces a small part of the post-data strength from yesterday - however the USD Index remains well clear of the cycle lows and horizontal support layered between 102.160-102.270. Core global FI markets have recovered from yesterday’s lows/yield highs, but the move remains modest.

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