Summary - MXN, BRL, CLP All On Front Foot, Peru 3Q GDP

MEXICO - USDMXN weathers the bout of risk off yesterday and continues its grind lower. Breaking most recent lows last night at 20.1545. Another brief rally up to 20.25 amid Mnuchin/Fed comments has once again been met with good supply and the pair now has 20.0339 Election level in sights.

• Overnight Mexico kept their IMF credit line at $63.4B on virus concerns, as the country became the fourth country to surpass 100,000 Covid-19 deaths.
• No data once again today ends light data week. Next week we have CPI, Retail Sales, Current Account, GDP and the Central Bank releases their Inflation Report and the minutes from most recent meeting.

BRAZIL - USDBRL under pressure yesterday after opening up at 5.37. Consistent selling took us down to 5.30 where the pair traded sideways despite the late bounce in US equities and a weaker USD.

• Brazil is close to hitting the 6 million-mark of Covid-19 cases almost nine months after the very first infection was confirmed. The health ministry stated yesterday that a second Covid wave not yet detected.

CHILE - Very lackluster session yesterday but CLP holds onto most recent gains post the stellar Trade figures on Wednesday. Markets await the pension bill senate floor vote with the date yet to be clarified.

* Chile sold $2.11b of "social bonds" due in 2028 and 2033, according to a Finance Ministry statement.

• Chile sold:
  • $1.37b of bonds due 2028 at 2.5%
  • $739m of bonds due 2033 at 3.4%
• Demand reached 3.1 times; 48% of bonds awarded to foreign investors

COLOMBIA - Central Bank Governor Echavarria presents 2H Financial Stability Report

PERU - Leader Sagasti swore in Galvez Delgado as Energy and Mines Minister. Today the interim President speaks at an APEC event.

• Q3 GDP y/y Expected -9.8% vs Prior -30.2%.