November 26, 2024 11:18 GMT
LATAM: Summary – November 26
LATAM
- On Tuesday, focus turns to mid-month IPCA inflation in Brazil, where the headline rate is expected to come in at 4.64% y/y in the first half of November. Meanwhile, markets continue to wait for an announcement of the government’s spending cut plan, which Finance Minister Haddad has said is expected this week.
- In the US, consumer confidence figures mark the data highlight today, with analysts expecting the number to tick higher to 111.4, from 108.7. With the data capturing the immediate aftermath of the Presidential election, markets will be on watch for any further reversal of pre-vote jitters - as evidenced in the gradual incline for the University of Michigan sentiment index over November.
- Markets hold a risk-off footing into the NY crossover, with Trump's tariff talk overnight unnerving sentiment and prompting outperformance in haven currencies. As a result, JPY outperforms, while trade sensitive FX, such as CAD and AUD, are softer against all others.
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