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Local Markets Reopen After Carnival, Attention on FOMC Minutes

LATAM
  • Argentina, Bolivia, Ecuador, Uruguay and Venezuela reopen after Carnival holiday.
  • In an Interview with "Les Echos", ECB’s Villeroy commented that the central bank is not obliged to hike at every meeting before September. "The central bank could therefore be more moderate in the pace of its future tightening… We will in no way be forced to raise rates at every board meeting between now and September," the governor warned. EUR is slightly softer headed through to US hours, with EUR/USD extending the recent (modest) downtrend.
  • Reports that Putin will meet China's State Councillor Wang Yi today crossing wires. Foreign Minister Sergei Lavrov will also meet with Wang Yi, who is expected to propose a fresh peace deal. European officials familiar with the plan said it is expected to include calls for a cease-fire and for a halt to arms deliveries to Ukraine, Bloomberg reported.
  • The Fed minutes take focus going forward, with markets looking to gauge the board's sensitivity to stepping up the pace of rate hikes should inflation issues persist over the medium-term. Fed's Williams is set to discuss inflation in a speech after the US close.

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