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LatAm Weekly

Overvalued Brazilian Real Hurts Exports and Industrial Output

By Bertrand Delgado, Juan Lorenzo Maldonado and Renzo Merino
Jan 31, 2011 | Last Updated

EXECUTIVE SUMMARY

  • Brazil: An overvalued currency should continue to weight on the non-commodity export sector in January and industrial growth in December. Central bank report will likely show that inflation expectations continue to deteriorate. PMI and automobile data for January should shed some light on growth dynamics at the beginning of 2011.
  • Mexico: Improvements in consumer confidence should continue in January 2011. Central bank will publish its first monetary policy minutes ever. Given the press release that followed the latest monetary policy meeting, we anticipate the[...]

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