Weekly Comment Recent trends in global markets: Key data

Week of October 21 to 25 

United States: 

  • Housing sales fell 1%, reaching their lowest level in 14 years, as buyers await more accessible mortgage rates. 
  • The Beige Book reported that economic activity remained stable, with a slight decline in manufacturing and mixed consumer spending. Employment showed slight growth, although wages increased moderately. Insurance and healthcare costs were areas of major concern due to their increases. 

Europe: 

  • Consumer confidence in the eurozone increased 0.4 points in October, with an improvement in consumer sentiment to -12.5, according to the European Commission. 
  • Christine Lagarde, President of the ECB, emphasized the need for caution regarding rate cuts during her recent appearance at an event in Washington. 

Japan: 

  • The IMF projected that Japan’s economic growth will slow to 0.3% this year, affected by disruptions in the automotive industry and the loss of tourism momentum. 

China: 

  • The People’s Bank of China reduced its benchmark interest rates as part of stimulus package to revitalize the economy. 

Brazil: 

  • Inflation expectations remain above the Central Bank’s target, which will maintain its pragmatic stance regarding the Selic rate. 

Mexico: 

  • BBVA Research downgraded Mexico’s economic growth for 2024 to 1.2%. However, overall inflation is expected to close below 4%. 

Important events in the coming weeks:  

  • In the United States, consumer confidence data will be released on 10/28. 
  • In the United States, employment data will be released on 11/01. 

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