The Australian monthly employment report is scheduled for release on Thursday at 00:30 GMT, and market participants anticipate a modest increase in jobs in January.
BNY’s EMEA Macro Strategist Geoff Yu reports that Latin American sovereign debt positioning in global portfolios has climbed to multi-year highs, with combined holdings in Brazil, Mexico, Argentina, Chile, Colombia and Peru now above 2023 peaks.
Commerzbank’s Volkmar Baur highlights that South Africa’s unemployment has fallen to 31.4%, the lowest since the pandemic, but remains structurally very high. Employment growth lags population gains, and the labour force has shrunk as more people stop job hunting.
European Central Bank (ECB) President Christine Lagarde may step down from her job earlier than her planned retirement in October 2027, according to a report by the Financial Times.
ING’s Frantisek Taborsky notes the Hungarian Forint is testing new highs as EUR/HUF trades near two-year lows ahead of expected NBH rate cuts.