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Mexico and Chile CPI In Focus, Greenback Slightly Softer

LATAM
  • After the weaker-than expected CPI print in Colombia, inflation data in Latin America continues with May figures in Chile and Mexico both scheduled. Later in the session we will receive Argentina industrial production and construction activity.
  • Eurozone Q1 GDP was revised downwards to -0.1% q/q from +0.1% q/q initially in today's final release. This is now lower than the +0.1% q/q initially forecasted by the March ECB macroeconomic projections. The Bloomberg consensus was looking for a flat reading.
  • The observance of the Corpus Christi holiday may limit liquidity a little today, with some participants across Germany, Spain, Portugal, Austria & others set to take a holiday.
  • The softer USD outlook from the off has helped support most major pairs early Thursday, with EUR/USD building a base above the 1.07 handle and NZD/USD showing back above the 0.6050 that failed to support prices yesterday.

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