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LATAM: Summary – September 20

LATAM
EM BulletBulletGlobalEmerging Market NewsRegion
  • The LatAm data calendar is light on Friday, with just the latest Citi survey of economists due in Mexico. Elsewhere, the Bank of Canada’s Macklem is due to speak before Canada retail sales data. There may also be comments from the ECB’s Lagarde and the Fed’s Harker to round off the week.
  • Overnight, the BoJ board largely maintained its assessment on the overall economy, although it slightly upgraded its assessment on private consumption, following its decision to hold the policy rate steady at 0.25%. “Japan’s economy has recovered moderately, although some weakness has been seen in part,” the BoJ said in a statement. The bank said private consumption has been on a "moderate increasing trend despite the impact of price rises and other factors.”
  • USDJPY is extending its impressive bounce on Friday as BoJ Governor Ueda acknowledged that “the upside risk to prices does appear to be easing given the recent yen strength”. Ueda added that time remains to confirm certain points when making policy decisions, indicating that the BoJ will assess the incoming data and economic conditions overseas in the coming months, especially in the US.
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  • The LatAm data calendar is light on Friday, with just the latest Citi survey of economists due in Mexico. Elsewhere, the Bank of Canada’s Macklem is due to speak before Canada retail sales data. There may also be comments from the ECB’s Lagarde and the Fed’s Harker to round off the week.
  • Overnight, the BoJ board largely maintained its assessment on the overall economy, although it slightly upgraded its assessment on private consumption, following its decision to hold the policy rate steady at 0.25%. “Japan’s economy has recovered moderately, although some weakness has been seen in part,” the BoJ said in a statement. The bank said private consumption has been on a "moderate increasing trend despite the impact of price rises and other factors.”
  • USDJPY is extending its impressive bounce on Friday as BoJ Governor Ueda acknowledged that “the upside risk to prices does appear to be easing given the recent yen strength”. Ueda added that time remains to confirm certain points when making policy decisions, indicating that the BoJ will assess the incoming data and economic conditions overseas in the coming months, especially in the US.