Summary - Banxico Bill On Lower House Agenda

MEXICO - The Lower House will debate the Banxico Bill today and its progress will be monitored closely following it being staunchly opposed by several private banks and the nation's most influential business lobby CCE.

• USDMXN traded at its highest levels since mid-November at 20.26 overnight and has since settled around 20.15. A further squeeze on any negative developments could see 20.43 and 20.69 act as targets above.

BRAZIL - USDBRL opening 0.45% lower at 5.0930 as Copom minutes in line with the statement last week that confirms perceived hawkish shift with the potential removal of forward guidance soon.

• Bouts of risk off, combined with delays on the emergency bill soured the mood yesterday and saw a retracement in Brazilian Assets.
• The move had a technical aspect with a new marginal low being made from last week and the psychological 5.00 level holding first time.

PERU - Fitch revises outlook to negative this morning but affirms at BBB+.

• October Economic Activity today at 1500GMT expected to come in at -5.0% up from the prior reading of -6.9%.

Argentina reports its inflation rate for November.

Ecuador debates anti-corruption bill that requires approval for the government to receive IMF funding.