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LATAM: Summary – January 02

LATAM
  • Chile economic activity data for November are due today, followed by the latest manufacturing PMI figures for Brazil, Colombia and Mexico. November remittances data for Mexico will also be released later, as well as December tax revenue figures for Argentina.
  • Elsewhere, weekly US jobless claims numbers and the final PMI releases across the US, Canada mark the highlights. There are no central bank speakers of note, for which markets will have to wait until Friday for Fed's Barkin, ECB's Lane.
  • Currency markets are starting 2025 by buying AUD and NZD, while selling CAD, GBP and the USD. Headlines remain few and far between here, as markets await the first true price action signals of the year. Outside of President-Elect Trump's inauguration in 3 weeks time, the first priority for markets looks to be a possible BoJ rate hike on January 24 - for which market pricing is steady at a 40% chance for a 25bp rate rise.
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  • Chile economic activity data for November are due today, followed by the latest manufacturing PMI figures for Brazil, Colombia and Mexico. November remittances data for Mexico will also be released later, as well as December tax revenue figures for Argentina.
  • Elsewhere, weekly US jobless claims numbers and the final PMI releases across the US, Canada mark the highlights. There are no central bank speakers of note, for which markets will have to wait until Friday for Fed's Barkin, ECB's Lane.
  • Currency markets are starting 2025 by buying AUD and NZD, while selling CAD, GBP and the USD. Headlines remain few and far between here, as markets await the first true price action signals of the year. Outside of President-Elect Trump's inauguration in 3 weeks time, the first priority for markets looks to be a possible BoJ rate hike on January 24 - for which market pricing is steady at a 40% chance for a 25bp rate rise.