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Brazil Consumer Confidence Dips, Federal Debt Total Due

LATAM
  • Brazil consumer confidence data has just printed at 93.2 in October, down from 97.0 in September. Federal debt total will be released later on Wednesday, as well as industrial and retail confidence indicators in Colombia. Colombia’s President Gustavo Petro is scheduled to meet with China President Xi Jinping as part of his three-day visit to the Asian nation.
  • GLOBAL: The Bank of Canada decision takes focus in G10 with US new home sales data for September also set to cross. Both ECB's Lagarde and Fed's Powell are set to make appearances, they will steer clear of comments on monetary policy given the respective media blackout periods for both the ECB and the Fed.
  • USD: The USD Index is seen firmer, snapping a four-session streak of lower highs after markets found firm support ahead of the 50-dma of 105.285 yesterday. The longer prices hold above this mark (which is trending higher), the more likely a resumption of the medium-term uptrend drawn off the July low.
  • CHINA: Chinese President Xi Jinping signalled that a sharp slowdown in growth and lingering deflationary risks won’t be tolerated, making a series of rare policy moves to boost sentiment in the world’s second largest-economy. The government increased its headline deficit on Tuesday to the largest in three decades and unveiled a sovereign debt package that marked a shift from its traditional growth model. Xi also made an unprecedented trip to the central bank — sending a powerful message about his focus on the economy.

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