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LATAM: Summary – October 03

LATAM
EM BulletBulletGlobalEmerging Market NewsRegion
  • BanRep will publish the minutes to Monday’s MPC meeting on Thursday, while services and composite PMI figures are expected in Brazil, alongside central government budget data, which are expected to show a wider fiscal deficit in August.
  • In the US, weekly jobless claims data cross today, alongside the ISM services index for September - both of which provide the last look at inflation ahead of Friday's payrolls print. The Fed's Kashkari, Bostic and Schmid are also set to make appearances.
  • GBP/USD - A dovish appearance from the BoE's Bailey this morning helped trigger a phase of dovish Bank of England re-pricing. As a result, GBP/USD corrected lower to take out support and touch new pullback lows of 1.3106. While GBP is the weakest currency in G10, the greenback is the firmest, as this week's weakness in the EUR boosts the USD index to its highest level since early September. Strong jobs data today and tomorrow would extend the short-term streak of higher highs and higher lows.
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  • BanRep will publish the minutes to Monday’s MPC meeting on Thursday, while services and composite PMI figures are expected in Brazil, alongside central government budget data, which are expected to show a wider fiscal deficit in August.
  • In the US, weekly jobless claims data cross today, alongside the ISM services index for September - both of which provide the last look at inflation ahead of Friday's payrolls print. The Fed's Kashkari, Bostic and Schmid are also set to make appearances.
  • GBP/USD - A dovish appearance from the BoE's Bailey this morning helped trigger a phase of dovish Bank of England re-pricing. As a result, GBP/USD corrected lower to take out support and touch new pullback lows of 1.3106. While GBP is the weakest currency in G10, the greenback is the firmest, as this week's weakness in the EUR boosts the USD index to its highest level since early September. Strong jobs data today and tomorrow would extend the short-term streak of higher highs and higher lows.