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No Regional Data Places Attention On US PPI and Fed Speak

LATAM
  • There are no tier-one data release in LatAm on Friday. PPI data rounds off the US data releases for the week, after yesterday's US CPI came in ahead of expectations. Fed's Kashkari is also set to speak, as well as ECB's Lane - who may be eyed for any comments on rate cuts of a larger magnitude than 25bps this year, after ECB's Vujcic floated that larger cuts would be possible should the data warrant such a move.
  • GLOBAL: The US and UK launched more than 60 airstrikes on Houthi targets in Yemen early on Friday in a bid to stop the Iran-backed group’s shipping attacks in the Red Sea. The Houthis appeared undeterred, vowing to continue targeting commercial vessels and saying they would expand their response to the attacks “very soon,” without giving further details.
  • EUROZONE: The ECB will start lowering interest rates once it’s convinced that inflation is headed back to its 2% goal, according to President Christine Lagarde. “I cannot give you a date” for cuts, Lagarde told France 2 TV in an interview Thursday. “But I can say that if we win this battle, if we get to 2% as we estimate in 2025, and if it’s confirmed by the data we will have” in the coming months, “I’m very confident, then rates will start to decline as soon as we have this certainty.”
  • CHINA: MNI (Beijing) - China's foreign trade will remain competitive and resilient in 2024 as positive factors outweigh negatives, Wang Ling Jun, vice minister for the General Administration of Customs (GACC) said at a press conference on Friday. China's exports registered a 4.6% y/y decline in 2023, compared with the 10.5% growth made in 2022, the first yearly decrease in seven years, data released by Customs on Friday showed.
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