Markets are broadly stronger today as we head into the week’s highlight non‐farm payrolls release, which to us means that today’s potential move is somewhat contained. European equities are generally up +0.3% to +1.0%, while a weaker USD has left commodities stronger and LATAM FX crosses broadly moving lower. We expect the market to trade sideways as we head into NFP which is likely to give the market direction for the coming couple of weeks. The Pacific Alliance’s investment and financial services groups are set to meet this week in Mexico City (Tuesday through Friday) to discuss the timeline for the negotiations of these segments of the treaty.
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Scotiabank