LATAM: Summary — Sep 23
* The Latam data calendar is light on Wednesday, with no major data releases scheduled. Attention for the remainder of the week will be on Banxico's MPC meeting tomorrow, where another rate hold is widely expected and Brazil IPCA-15 inflation data on Friday. Meanwhile, Argentina President Milei is due to speak at the UN General Assembly today, while Chile President Kast is set to hold a working meeting with the World Bank's MD of Operations. * In the US, flash PMIs highlight the calendar before the focus turns to the Trump-Xi summit and a plethora of central bank decisions on Thursday. * The strengthening theme for the dollar continues to be in play following the Fed last week, as the USD index extends the recovery from the September lows to as much as 2.3% this morning to a session high of 100.89. In EM, CEE currencies are under pressure, while ZAR is also on the backfoot ahead of today's SARB meeting, where a 25bp hike is likely. Meanwhile, USDMXN recently broke above trendline resistance, drawn from the year's high, which has amplified the recovery to 17.40 this morning.
* The Latam data calendar is light on Wednesday, with no major data releases scheduled. Attention for the remainder of the week will be on Banxico's MPC meeting tomorrow, where another rate hold is widely expected and Brazil IPCA-15 inflation data on Friday. Meanwhile, Argentina President Milei is due to speak at the UN General Assembly today, while Chile President Kast is set to hold a working meeting with the World Bank's MD of Operations. * In the US, flash PMIs highlight the calendar before the focus turns to the Trump-Xi summit and a plethora of central bank decisions on Thursday.
89. In EM, CEE currencies are under pressure, while ZAR is also on the backfoot ahead of today's SARB meeting, where a 25bp hike is likely. 40 this morning.