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S. America Forex Market Report - 17 April 2015

Brazil (BRL) Retail sales have dropped 0.1% in February from January, the IBGE stated on 14 April 2015. Meanwhile, the Real has strengthened slightly against the USD, as Petrobras moves closer to publishing financial results.  

Mexico (MXN) The Mexican Central bank is likely to hold off on raising interest rates, as there is currently indecision as to whether Mexico should raise interest rates before the U.S.Mexico‚Äôs policy makers are expecting inflation to remain around 3% this year.  

Colombia (COP) Net foreign investment in Colombia fell 25% in the first quarter from the same period a year earlier. Direct foreign investment in Colombia will likely fall almost 20% this year according to ANIF.  

Peru (PEN) The Peruvian Central Bank have lowered their forecast for growth to 3.8%, down 0.2% from the initial forecast of 4% earlier this year. The Peruvian Sol, meantime, has hit a 6 year low against the USD, as the interbank rate moved to PEN 3.123 per USD.

Argentina (ARS) Nissan Motor Corporation, has decided to bet strongly in Argentina, as they announce plans to become an OEM within Argentina. Production within Argentina is expected to begin around 2018. The total sum of their investment is valued at USD 600 million.

Economic Data and Events for this Week

15 April 2015:

12h00 am GMT:  Industrial Production (Colombia)

23 April 2015:

03h00 pm GMT:  Business Confidence (Mexico)
10h00 pm GMT:  Balance of Trade (Argentina)

4 May 2015:

01h00 am GMT:  Interest Rate Decision (Peru)

6 May 2015:

02h00 pm GMT:  Industrial Production (Brazil)

Global Forex Market Report - 16 April 2015
Breaking News: GBP/ZAR goes to a 6 year high!

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