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Local Currencies Buoyed, WEF Panel Discussion With Heads Of State

  • A 1% bounce from the lows in e-mini S&P futures has lent some support to emerging market currencies on Tuesday with the JPMorgan EM CCY Index rising 0.3%. The greenback is also off the highs which has prompted USDMXN to re-approach noted support around 20.25.
  • There are no major economic data releases for the region today, however, South American heads of state and Inter-American Development Bank President Mauricio Claver-Carone participate in a World Economic Forum panel discussion.
    • The WEF panel includes presidents Ivan Duque of Colombia, Carlos Alvarado of Costa Rica, Guillermo Lasso of Ecuador, Alejandro Giammattei of Guatemala and Pedro Castillo of Peru.

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