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Multiple Local Holidays Across Region, Focus On US Employment

LATAM
  • There are no major data release in LatAm on Friday which will leave the focus on the upcoming US employment report. Multiple holidays across the region will see local market closures in Chile, Colombia, Peru and Argentina.
  • Bloomberg consensus sees nonfarm payrolls growth of 183k in November, up from the 150k in October owing to a 38k fewer striking workers meaning strike adjusted gains should trend lower. Average hourly earnings are expected to tick lower to 4.0% Y/y.
  • China will prioritise economic stability in 2024 as it balances the need to expand domestic demand with deepening supply-side reform, the state-run Xinhua News Agency reported on Friday following a Politburo meeting presided by President Xi Jinping. Authorities will moderately increase the intensity of proactive fiscal policy and keep prudent monetary policy flexible as they seek to strengthen counter- and cross-cyclical adjustments, Xinhua reported.

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