The morning intel from across Latin America. Free.
By subscribing you agree to our privacy policy. We never share your email.
Wednesday’s session in Latin America is not about a single overnight shock but a cluster of domestic data points that will test local conviction. Mexico’s first-quarter GDP report lands at midday, with economists looking for a 1.5% quarterly bounce. That would be the fastest clip in over a year and could give the peso a tangible bid after a sleepy Tuesday session where it barely moved.
Brazil is up next with its own labour-market report. A drop in the unemployment rate to 5.5% would be the lowest in years, yet it’s a double-edged sword: a tight jobs market props up consumption but keeps services inflation sticky. That is precisely the headache for the central bank as it slowly cuts the Selic rate from 14.25%. The National Monetary Council meets today, adding a policy layer to the morning’s trading.
The regional board shows a mildly positive lead from Tuesday’s close in São Paulo and Bogotá, offset by a sharp markdown in Buenos Aires, where the Merval fell 1.48%. Chile’s IPSA also slid 0.77%, though the currency there had a stellar day, strengthening almost 1% against the dollar. The takeaway is a market that is rotating, not retreating, ahead of the data.
