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Mex Unemployment Rate and Brazil Industrial Production Data Due

LATAM
  • Mexican unemployment rate data and Brazil industrial production figures for April headline the LatAm docket to finish the week. Naturally, the broader focus remains on the US employment report where Bloomberg consensus looks for further moderation in payrolls growth in May to +195k versus a prior read of +253k. For reference, the whisper number currently resides at +225k.
  • Debt Limit Bill Passes Senate, Biden To Sign & Address Nation Today -- Last night, by a 63-36 margin, the US Senate passed the Fiscal Responsibility Act 2023 averting what would have been a catastrophic default by the US gov't when it hit the debt ceiling in just a few days time. Following on from this, President Joe Biden will sign the legislation later today before delivering an address to the nation at 1900ET (0000BST, 0100CET, 0800JST).
  • The greenback trades moderately softer ahead of the key US data, with the USD index most impacted by the rising Chinese Yuan and a firmer AUD, both bolstered by domestic headlines.

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