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LATAM: Summary – November 12

LATAM
  • The minutes to last week’s Copom meeting, when the Selic rate was hiked by 50bp, will be released on Tuesday, while the central bank of Chile will publish its latest economist survey. On the data front, Brazil retail sales growth is expected to slow in September, while Argentina monthly CPI inflation is set to moderate further in October.
  • In the US, the NFIB Small Business Optimism data is followed by the NY Fed's latest inflation expectations release. The speaker slate will likely be of more interest, with the Fed’s Waller, Barkin, Harker and Kashkari all set to make appearances. Waller and Barkin should prove the most consequential.
  • The greenback is firmer once again early Tuesday, with the USD Index adding to recent gains, with the re-opening of US rates after yesterday’s holiday allowing US yields to drift higher and underpin the greenback once again.
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  • The minutes to last week’s Copom meeting, when the Selic rate was hiked by 50bp, will be released on Tuesday, while the central bank of Chile will publish its latest economist survey. On the data front, Brazil retail sales growth is expected to slow in September, while Argentina monthly CPI inflation is set to moderate further in October.
  • In the US, the NFIB Small Business Optimism data is followed by the NY Fed's latest inflation expectations release. The speaker slate will likely be of more interest, with the Fed’s Waller, Barkin, Harker and Kashkari all set to make appearances. Waller and Barkin should prove the most consequential.
  • The greenback is firmer once again early Tuesday, with the USD Index adding to recent gains, with the re-opening of US rates after yesterday’s holiday allowing US yields to drift higher and underpin the greenback once again.