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October Trade Balance, Banxico Quarterly Report Due Wednesday

MEXICO
  • The central bank is scheduled to publish its Quarterly Inflation Report on Wednesday. Given Banxico has a larger set of data than before the November monetary policy meeting, markets will be looking for any adjustments to inflation and growth forecasts. Furthermore, analysts will analyse whether the balance of risks has changed. Goldman Sachs have appointed out that attention will be paid to the revised forecast for the output gap and labour market slack estimates.
  • Trade balance data is expected to show a near $1.51b deficit in October, from a $1.48b deficit the month before, according to economists surveyed by Bloomberg. The data is scheduled for 1200GMT/0700ET:
    • Oct. Trade Balance, est. -1.51b, prior -1.48b
    • Oct. Imports, prior $51.1b
    • Oct. Exports, prior $49.7b

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