September 11, 2024 10:26 GMT
LATAM: Summary – September 11
LATAM
- Brazil services volume is due on Wednesday, alongside Mexico industrial production, both for July, while in Argentina August CPI inflation will cross. The latest survey data show that monthly inflation is expected to remain around 4.0% m/m.
- USD - Elsewhere, focus will be on US CPI data. where consensus sees core CPI at 0.2% m/m in August after a slightly softer than expected 0.165% m/m in July. Ahead of the data, the greenback is underperforming the broader G10 basket, although adjustments across other major pairs remain contained.
- JPY - Despite USDJPY extending its recovery off the lows to roughly 100 pips, the pair remains 0.6% lower on the session amid the extended decline for core yields on Wednesday. Adding to the most recent theme of yen strength, BoJ board member Junko Nakagawa reiterated overnight that the BoJ will adjust the degree of easy policy if the economy realises the bank’s forecast for the economy and prices as real interest rates remain at considerably low levels.
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