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Summary – April 24

LATAM
  • Mexico bi-weekly CPI data for the first half April will take the focus on Wednesday, with analysts expecting the headline inflation rate to tick up, even as core inflation edges lower. Brazil consumer confidence and Chile March PPI inflation will also cross. In the G10, focus for the session turns to US preliminary March durable goods orders data. The speaker slate is considerably quieter, with no major appearances set from the ECB and the Fed remaining inside their pre-decision media blackout period.
  • Global News:
    • US - The Senate passed a long-delayed $95 billion emergency aid package for Ukraine and other besieged US allies, clearing the way for resumed arms shipments to Kyiv within days. The Defence Department is prepared to swiftly move artillery shells and air defence munitions as part of an initial $1 billion tranche of new aid, US officials said.
    • US / CHINA - Amid growing US worries that Russia's war on Ukraine is being made possible by Chinese support for Moscow's defence industry, Secretary of State Blinken was set to arrive in China on Wednesday on a three-day mission to push leaders to cut ties with the Kremlin. The conversations in Shanghai and Beijing will be aimed at managing an increasingly thorny and contentious relationship, with ongoing disputes about China's role in the war in Ukraine.
    • JAPAN - Japan is on the brink of currency intervention if the yen weakens any further, according to one of the country’s former top currency officials. “Amid no change in US and Japan interest rates, the yen has depreciated against the dollar quite rapidly,” said Mitsuhiro Furusawa, former vice minister of finance for international affairs, in an interview with Bloomberg on Tuesday. “Should this trend continue, intervention will come,” Furusawa said, adding that “we are very close.”

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