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Risk Weakness/Dollar Bid Weigh on Latam FX

LATAM FX
  • Further declines in equity indices and crude futures are continuing to boost the dollar and put pressure on EMFX. USDMXN is close to erasing the whole of today’s decline, now trading back above 21.40.
  • Brazilian Q3 GDP Headlines the regional data docket on Thursday as markets will turn their focus to US employment data on Friday.
  • One further headline from Banxico nominee Rodriguez: Monetary policy faces 'enormously complex' outlook (BBG)
    • USDMXN down 0.17% at 21.4114
    • USDBRL up 0.75% at 5.6644
    • USDCLP up 1.15% at 838.8
    • USDCOP up 0.22% at 3971.56
    • Bbg Dollar Index up 0.12% at 1183.9
    • JPMorgan EM Ccy Index down 0.26% at 52.285

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