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EnglishپارسیEnglishپارسیMarket impact: Neutral for MXN, as overall labor conditions remain stable despite a slight uptick in the non-seasonally adjusted rate.
Historical context: Jobless rates remain near record lows below 3%, underscoring Mexico’s resilient labor market despite global headwinds.
Market impact: Neutral to slightly negative for BRL, as faster-than-expected wholesale inflation could temper expectations for aggressive monetary easing.
Historical context: IGP-M inflation continues its steady climb, while lending growth signals sustained credit expansion in Brazil’s economy.
Market impact: Slightly negative for INR, as weaker-than-expected industrial and manufacturing output signals softer momentum in India’s growth outlook.
Historical context: Despite the slowdown, cumulative production remains above 2%, but the drop in monthly manufacturing highlights fragility in the recovery.
Market impact: Neutral to slightly positive for TRY, as confidence remains broadly stable below the 100 threshold, indicating cautious optimism.
Historical context: The index continues to hover just under the neutral 100 mark, reflecting subdued but steady sentiment in Turkey’s economy.
Market impact: Neutral for MXN, as the peso-denominated trade deficit widened more than expected, but the U.S. dollar–based measure showed a small surplus.
Historical context: August marked the first dollar-based surplus in three months, while the peso-based deficit highlighted currency valuation effects and persistent import pressures.
Market impact: Positive for BRL, as a smaller current account gap combined with solid FDI inflows improves Brazil’s external balance outlook.
Historical context: The August current account shortfall was the smallest in five months, while FDI inflows remained robust, continuing to cover external financing needs and supporting investor confidence.
Market impact: Neutral for INR, as stronger credit expansion offsets weaker deposit growth and a slight dip in reserves.
Historical context: Loan growth continued to outpace deposits for the fifth straight month, raising concerns about liquidity pressure in the banking system, while FX reserves remained near record highs above $700B.
Market impact: Neutral for KRW, as sentiment remained unchanged, signaling persistent weakness in the industrial sector.
Historical context: The index has stayed well below the neutral 100 mark for over a year, reflecting subdued demand, export challenges, and cost pressures on manufacturers.
Market impact: Negative for MXN, as the surprise cut reduces carry attractiveness and signals concerns about slowing growth.
Historical context: This marks Banxico’s first rate cut since early 2024, reflecting easing inflation pressures but raising questions about the balance between supporting growth and maintaining peso stability.
Market impact: Slightly negative for BRL, as inflation surprised to the upside compared with expectations, raising concerns over persistent price pressures.
Historical context: September’s mid-month CPI marked the highest annual reading since early 2024, driven by food and transport costs, challenging the central bank’s disinflation path.
Market impact: Mildly positive for TRY, as the buildup in reserves strengthens Turkey’s external buffers and supports investor confidence.
Historical context: Reserves have trended upward in recent months, reflecting stronger capital inflows and central bank efforts to bolster foreign currency liquidity.
Market impact: Mildly positive for ZAR, as annual producer inflation accelerated, even though monthly gains slowed.
Historical context: The year-on-year increase marked the fastest pace since early 2024, driven by higher food and energy costs, while the monthly slowdown reflects easing price pressures in some industrial inputs.