Summary - Chile Senate Approves Govt Bill, BANREP Expected Unchanged

MEXICO - Key takeaway from the minutes was some board members said rate pause is not the end of the easing cycle. Heath voted for a cut and wants to "continue the downward cycle as far as possible", citing expectations of a weak recovery.

• USDMXN quiet with US markets shut yesterday and hovers right around 20.00 once more.
• October Trade Balance printed Surplus of $6.2B vs Expected $3.3B

BRAZIL - Raising the minimum wage is not a possibility due to federal government spending on retirees and pensioners President Bolsonaro said in his weekly online event.

• BRL firmed to 5.30 during yesterday's session but closed in the middle of 5.30-5.35 daily range. 200day MA now 5.2950 increasing in importance.
• 1200GMT/0700ET – Brazil Unemployment Rate (Exp 14.8% vs Prior 14.4%).

CHILE - Senate votes 35 in favour, one against in relation to government bill on Pension Withdrawal after previously rejecting the opposition bill on Thursday.

• The legislation, which caps withdrawals at the equivalent of $5,678 and will subject some of them to taxation, now moves on to the lower house for fresh debate and votes before becoming law.
• Analysts have forecasted there may be around $16b in withdrawals.
• Largely priced in to markets by this point USDCLP back sub 765 having held 775/780 pivot.

COLOMBIA - BANREP Decision due at 1800GMT/1200 ET – Preview to follow

ARGENTINA - Argentina period of national mourning continues.

PERU - Congress may vote on 2021 budget and debt laws.