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Summary: Markets Overall Subdued, Mex/Brazil Inflation In Focus

LATAM
  • The focus in G10 has been on rather underwhelming UK Services PMI data on Tuesday with more mixed readings across Eurozone releases. Broad sentiment remains more subdued as markets await Thursday’s US Advanced GDP data and next week’s FOMC decision.
  • Prelim US PMI data crosses later today, with markets expecting a further slip for the manufacturing and services subindices. This is seen putting the composite headline at 46.4, just above the 45.0 previous. The speaker slate is light, with the Fed's media blackout keeping the calendar quiet. ECB's Knot, Vujcic and President Lagarde have already made appearances, but said little to sway markets in either direction.
  • Mexico and Brazilian inflation headline the LatAm docket.

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