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EnglishپارسیEnglishپارسیBrazil's mid-month Consumer Price Index (CPI) data released on Tuesday, July 28, 2026, revealed a modest increase in the month-over-month inflation rate, which stood at 0.06%, significantly lower than the forecast of 0.4% and the previous rate of 0.41%. In contrast, the year-over-year CPI showed a slight increase to 4.52%, falling short of the anticipated 4.9% and slightly above the previous figure of 4.8%. These mixed results indicate a potential slowdown in inflationary pressures in Brazil, which could influence monetary policy decisions moving forward.
Possible Market Effect: The lower-than-expected month-over-month CPI may lead to a neutral market sentiment as investors reassess inflation expectations.
Q&A:
Q: What was Brazil's month-over-month CPI for July 2026?
A: Brazil's month-over-month CPI for July 2026 was 0.06%.
Q: How did the year-over-year CPI for Brazil compare to forecasts?
A: The year-over-year CPI for Brazil was 4.52%, which was below the forecast of 4.9%.
Market Sentiment: Neutral - Investors may adopt a wait-and-see approach following mixed inflation signals.
Brazil's current account deficit for June 2026 was reported at $-2.33 billion, a slight improvement compared to the previous month's deficit of $-3.19 billion. Analysts had forecasted a larger deficit of $-3.0 billion, indicating a better-than-expected performance. The consensus estimate was $-2.45 billion, suggesting that the country's balance of payments is stabilizing. This data was released on Tuesday, July 28, 2026, at 11:30 AM.
In a related economic indicator, Brazil's Foreign Direct Investment (FDI) for June 2026 surged to $9.07 billion, significantly surpassing both the forecast of $5.8 billion and the previous month's figure of $7.97 billion. This robust inflow reflects growing investor confidence in Brazil's economic prospects. The consensus estimate was $5.0 billion, highlighting the strong performance in attracting foreign capital.
Possible Market Effect: Neutral - While the current account deficit is narrowing, the overall sentiment remains cautious due to the low importance of the data.
Q&A:
Q: What was Brazil's current account deficit in June 2026?
A: Brazil's current account deficit in June 2026 was $-2.33 billion.
Q: How much foreign direct investment did Brazil attract in June 2026?
A: Brazil attracted $9.07 billion in foreign direct investment in June 2026.
Market Sentiment: Neutral - The data shows improvements but lacks significant impact on market sentiment.
On Tuesday, July 28, 2026, Singapore's Monetary Authority (MAS) conducted its 12-week and 4-week bill auctions, revealing yields that indicate slight increases. The 12-week bill yield was recorded at 1.56%, up from the previous 1.48%. Meanwhile, the 4-week bill yield rose to 1.46%, compared to the previous yield of 1.4%. These results reflect a modest upward trend in short-term interest rates in the Singaporean market.
Possible Market Effect: Limited impact on the market due to low importance.
Q&A:
Q: What was the yield for Singapore's 12-week bill auction on July 28, 2026?
A: The yield for Singapore's 12-week bill auction was 1.56%.
Q: How did the yield for the 4-week bill auction change compared to the previous auction?
A: The yield for the 4-week bill auction increased from 1.4% to 1.46%.
Market Sentiment: Neutral - The slight increase in yields may not significantly affect market sentiment.
Mexico recorded an unadjusted merchandise-trade surplus of $4.090 billion in June 2026, exceeding the $2.280 billion forecast and May’s $2.259 billion surplus. On a seasonally adjusted basis, the surplus reached $3.843 billion, up from $1.034 billion.
Exports increased 34.4% year-on-year, outpacing import growth and substantially widening the surplus.
Importance: ★ Low
Possible Market Effect: The stronger-than-expected surplus is supportive for Mexico’s external position and may offer limited support to the peso.
Market Sentiment: MXN — Buy
Q: Did Mexico’s trade surplus widen in June 2026?
A: Yes. The unadjusted surplus increased to $4.090 billion and exceeded expectations.
Source: Mexico’s National Institute of Statistics and Geography
Brazil's FGV Consumer Confidence index showed a slight decline in July 2026, recording a value of 88.3, down from the previous month's figure of 88.7. The forecast for this month was slightly higher at 88.5, indicating a marginal miss against expectations. The data was released at 11:00 AM on Monday, July 27, 2026. This decline may reflect ongoing economic uncertainties affecting consumer sentiment in the country.
Possible Market Effect: The slight decline in consumer confidence may lead to cautious market sentiment, potentially affecting consumer-related sectors.
Q&A:
Q: What was the actual FGV Consumer Confidence index in Brazil for July 2026?
A: The actual index was 88.3.
Q: How does the July 2026 consumer confidence compare to the previous month?
A: It decreased from 88.7 in June 2026 to 88.3 in July 2026.
Market Sentiment: Neutral - The slight decline in consumer confidence suggests a cautious outlook but does not indicate a significant shift in market conditions.
On Monday, July 27, 2026, South Africa conducted several treasury bill auctions with varying results. The 91-day t-bill auction yielded an interest rate of 7.03%, down from the previous rate of 7.12%. The 182-day t-bill auction saw a decrease to 7.41% from 7.52%, while the 273-day t-bill auction recorded a slight decline to 7.63% from 7.67%. In contrast, the 364-day t-bill auction also experienced a drop, with the rate falling to 7.40% from 7.72%. These results indicate a general trend of declining yields across the board, reflecting investor sentiment and market conditions.
Possible Market Effect: Neutral
Q&A:
Q: What was the interest rate for the 91-day t-bill auction in South Africa on July 27, 2026?
A: The interest rate for the 91-day t-bill auction was 7.03%.
Q: How did the interest rates of the 182-day and 364-day t-bill auctions compare on July 27, 2026?
A: The 182-day t-bill auction had an interest rate of 7.41%, while the 364-day t-bill auction had a rate of 7.40%.
Market Sentiment: Neutral - The mixed results in t-bill auctions suggest stable investor sentiment without significant shifts.
In May 2026, Saudi Arabia reported a balance of trade surplus of SAR 26.0 billion, up from SAR 22.8 billion in the previous month. This figure met the forecast expectations. However, exports fell short of projections, totaling SAR 93.8 billion against a forecast of SAR 104.0 billion, and down from SAR 101.6 billion in April. On the other hand, imports decreased to SAR 67.8 billion, compared to a forecast of SAR 78.0 billion and a previous figure of SAR 78.8 billion. The overall trade dynamics indicate a slight contraction in export performance while maintaining a positive trade balance.
Possible Market Effect: The mixed results may lead to a neutral market sentiment as the trade balance improves but exports underperform.
Q&A:
Q: What was the balance of trade for Saudi Arabia in May 2026?
A: The balance of trade for Saudi Arabia in May 2026 was SAR 26.0 billion.
Q: How did Saudi Arabia's exports perform in May 2026 compared to forecasts?
A: Saudi Arabia's exports in May 2026 were SAR 93.8 billion, which was below the forecast of SAR 104.0 billion.
Market Sentiment: Neutral - The trade balance improved, but lower exports may raise concerns.
★★★ Importance: High
U.S. investment bank Goldman Sachs raised its forecast for global data-center capacity in 2030 from 168 GW to 217 GW, more than double the expected 101 GW in 2025. Building the additional 116 GW could require approximately $6 trillion in capital spending.
The bank expects capacity to grow at a 17% compound annual rate from 2025 to 2030, with the United States accounting for 60%–70% of new additions. Global data-center power consumption is projected to rise 170% from its 2025 level by 2030, driven by AI infrastructure, cloud computing and enterprise adoption of AI agents.
Goldman identified U.S. utilities FirstEnergy, Xcel Energy, Duke Energy and Sempra, alongside independent power producers Talen Energy, Vistra and NRG Energy, as potential beneficiaries. It also maintained a Buy rating on U.S. data-center operator Digital Realty.
Possible Market Effect: Accelerating AI infrastructure spending and tight computing capacity could support power prices, long-term electricity contracts and revenue growth among utilities, power producers and data-center operators. Power shortages, permitting delays, labor constraints, equipment availability and local opposition remain the principal risks.
AI Power and Data-Center Stocks Market Condition: Buy — Bullish
Q: How much global data-center capacity does Goldman Sachs expect by 2030?
A: Goldman expects capacity to reach 217 GW, compared with 101 GW in 2025, potentially requiring about $6 trillion in capital spending.
Q: Which U.S. companies could benefit from the AI-driven data-center expansion?
A: Goldman highlighted FirstEnergy, Xcel Energy, Duke Energy, Sempra, Talen Energy, Vistra and NRG Energy, while maintaining a Buy rating on Digital Realty.
★ Importance: Low
Thailand’s foreign-exchange reserves declined to $276.0 billion in the latest July 2026 report, from $279.4 billion previously. Meanwhile, outstanding forward currency-swap positions increased to $24.6 billion, from $24.1 billion.
Possible Market Effect: Thailand retains substantial external buffers, but the $3.4 billion reserve decline and higher swap exposure provide a mildly negative signal for the baht.
THB Market Condition: Sell — Slightly Bearish
Q: How did Thailand’s international reserves change in July 2026?
A: Foreign reserves fell by $3.4 billion to $276.0 billion, while currency swaps increased to $24.6 billion.
Source: Bank of Thailand
★★ Importance: Medium
Thailand’s customs-based exports increased 20.8% year-on-year to $34.66 billion in June 2026, exceeding the 15.2% forecast. Imports surged 50.3% to $41.19 billion, also well above the 35.8% forecast, producing a $6.53 billion trade deficit.
Possible Market Effect: Strong exports support industrial activity, but the much faster import growth and unexpectedly large deficit could pressure Thailand’s external balance and the baht.
THB Market Condition: Sell — Bearish
Q: What was Thailand’s trade balance in June 2026?
A: Thailand recorded a $6.53 billion deficit as imports grew 50.3% and exports increased 20.8%.
★ Importance: Low
Singapore’s private residential property price index increased 0.5% quarter-on-quarter in Q2 2026, matching the flash estimate but slowing from 0.9% in Q1.
Possible Market Effect: Continued price growth shows resilience in Singapore’s housing market, although the slower pace signals more moderate momentum.
SGD Market Condition: Neutral
Q: How much did Singapore’s private residential property prices increase in Q2 2026?
A: Prices rose 0.5% quarter-on-quarter, down from 0.9% in Q1.
★ Importance: Low
Argentina’s retail sales increased 25.9% year-on-year in May 2026, accelerating from 21.5% in April. The strong nominal increase partly reflected the country’s still-elevated price levels.
Possible Market Effect: Faster sales growth offers a positive signal for consumer activity, although inflation makes it difficult to determine the strength of real consumption from the headline figure alone.
ARS Market Condition: Neutral — Slightly Bullish
Q: How much did Argentina’s retail sales increase in May 2026?
A: Retail sales rose 25.9% year-on-year, accelerating from 21.5% previously.
Source: National Institute of Statistics and Censuses of Argentina