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Local Market Closures For National Holiday

BRAZIL
  • Markets will be closed on Wednesday for Our Lady of Aparecida Day. There is very little data for the rest of the week on the domestic docket.
  • USDBRL had a very strong session amid the late reversal lower in major equity indices. Key short-term resistance has been defined at 5.4286, the Sep 29 high of which a break would reinstate a bullish technical theme.
  • Overnight, Brazil’s Economy minister Paulo Guedes said he has discussed, with his Mexican counterpart Rogelio Ramirez de la O, extending their countries’ trade relationship, speaking at a press conference in Washington DC.
    • Brazil government plans to focus discussions on automobiles and food staples
    • Guedes also said he would like the IADB’s president to be a Latin-American, to have a five-year mandate, and for the bank’s next chief to be an “extremely experienced person in both public and private sectors” (Bloomberg)

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