RPT-LATAM WEEKAHEAD-Current acct data to show some improvement

(Repeats to broaden distribution)

By Daniel Bases

NEW YORK, May 24 (Reuters) - Current account deficit data from Brazil and Mexico in the coming week are expected to show some improvement, but the global recession's impact is still expected to be on display.

Worth noting: Colombia is expected to lower interest rates again, perhaps by as much as 100 basis points, at the tail end of the week.

Bank holidays on Monday in the United States and Britain probably will keep a lid on trade in the early part of the week, but pent-up activity could make Tuesday volatile. U.S. financial markets will be closed on Monday for observance of the Memorial Day holiday.

Mexico reports first-quarter current account data on Monday with expectations for a deficit of $1.5 billion, according to Barclays Capital.

"The services balance seasonality is favorable in Q1, and factor payments should have declined due to the economy's weakness," Barclays said.

On Tuesday, Brazil reports its current account data with economists forecasting a surplus.

Morgan Stanley forecasts a $900 million surplus for Brazil, saying "strong trade surplus should offset outflows of profits" in the month of April. Barclays forecasts a Brazilian surplus of $500 million.