January 09, 2025 11:18 GMT
LATAM: Summary – January 09
LATAM
- Mexico headline CPI inflation is set to fall to 4.22% y/y in December, while the core rate edges up to 3.64%. Banxico will also release the minutes to its December MPC meeting when it cut rates by another 25bp, while in Peru the BCRP announces its latest interest rate decision. Elsewhere, Brazil November retail sales figures are due, while in Colombia December CPI inflation will be released later this evening.
- The USD index has been consolidating above 109.00 amid the US federal holiday. All attention for the greenback will be on tomorrow’s US employment report. However, we do have the Fed’s Harker, Barkin, Schmid and Bowman due to speak today.
- Sterling weakness remains the focus for G10 currency markets on Thursday, with early moves prompting GBPUSD to print at 1.2239, its lowest level since November 2023. Moves have stabilised since, although GBP remains weaker across the board. The likes of GBPJPY and EURGBP are seeing similar size adjustments as fiscal worries continue to permeate.
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