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Summary – June 11

LATAM
  • On Tuesday, Brazil will publish IPCA inflation data for May, while Mexico IP data for April and May ANTAD same-store sales are also due. Elsewhere, the BCCh will publish its latest economist survey and Colombia May consumer confidence will cross. In the G10, the ECB speaker slate picks up further, with appearances from the ECB's Holzmann, Lane, Makhlouf and Elderson all scheduled.
  • USD – The greenback trades firmer headed into the NY crossover, in a session dominated by political speculation, as rumours circulate that the French President Macron could consider resignation should the right-wing emerge victorious in the snap election called on Sunday night. The Elysee Palace has firmly rebutted this prospect.
  • Global News:
    • ISRAEL (MNI) – Wires carrying comments from US Secretary of State Antony Blinken following his talks with Israeli PM Benjamin Netanyahu. Says that "It is on Hamas to move forward with [peace] proposal or not". Says that Netanyahu "reaffirmed his commitment to the proposal" last night. Reuters reports a Hamas official saying that the group accepts the UN ceasefire resolution and is ready to negotiate over the details.
    • EU – The ECB’s battle to bring inflation under control isn’t over, according to Governing Council member Simkus. “It’s too early to raise a victory flag,” the Lithuanian central-bank chief said Tuesday in Vilnius. He did say though that last week’s reduction in borrowing costs by the ECB indicates a “significant step forward” in taming consumer-price growth. More monetary easing is likely to follow as long as inflation continues to head toward the 2% target, he said.
    • FRANCE (MNI) – Wires reporting that the office of French President Emmanuel Macron has confirmed a press conference for Wednesday 12 June. This will be the first time Macron has spoken publicly since the announcement a snap legislative election on 30 June. The presser could be used as the launch for the centrist Renaissance-led bloc of parties that back Macron.

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