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Summary - DEC 23

LATAM

MEXICO - USDMXN traded up to 2020 overnight but has since moved lower and seems content trading just above 20.00 as we await mid-month CPI and Economic Activity, neither of which should have much impact on markets given our proximity to the holiday period.

  • 1200GMT/0700ET Mexico Oct Economic Activity – Expected M/M Exp 1.5% vs prior 1.01%
  • 1200GMT/0700ET Mexico Bi-Weekly CPI - Y/Y Exp 3.16% vs prior 3.23%

BRAZIL - USDBRL had a brief bout of volatility yesterday trading down to 5.11 and back up to 5.17 but then had a very contained trading range amid more quiet global markets. Brazilian swap rates declined after lower-than-expected inflation offset negative sentiment abroad. Swap rates traders will eye Brazil's job creation data today ahead of the holidays.


CHILE - Chile Central Bank have published the minutes from its Dec. 7 monetary policy meeting.

  • President Pinera announced vaccinations will commence tomorrow.

COLOMBIA - According to the Foreign Ministry, two Russian diplomats have been withdrawn from Colombia. The govt requested their withdrawal after determining the diplomats violated provisions of the Vienna Convention on Diplomatic Relations.

  • Russia has retaliated by expelling two Colombian diplomats from Moscow
  • The Russian diplomats "were carrying out activities in the country that were incompatible" with provisions of the convention, according to a statement. No specifics were provided.

ARGENTINA - Buenos Aires Grain Exchange publishes weekly crop report with updates on soybean planting and wheat harvesting. This comes amid the continued extensions of strikes by Soy Crushers that is dampening the supply outlook.

  • 1900GMT/1300ET Argentina Oct. Economic Activity m/m prior reading 1.9%

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