Ibovespa Falls 1.04% Before US Inflation Data | Morning Call, Oct 14
Brazil opens after a 1.04% Ibovespa drop, with US inflation due at 09:30 BRT, services data at 09:00 and Polymarket pricing an 89.5% chance of a Selic cut. The post Ibovespa Falls 1.04% Before US Inflation Data | Morning Call, Oct 14 appeared first on The Rio Times .
Brazil's market opened on Wednesday following a week-long break, with the Ibovespa stock index down 1.04% to 206,888 points. The day's data releases will test the market's mood: the August services survey from IBGE at 09:00 BRT and US consumer prices for September at 09:30 BRT. Economists anticipate inflation in the US to rise to 3.6% in September from 3.4%, potentially increasing Treasury yields and negatively affecting emerging-market currencies, including the Brazilian real.
The services survey is crucial in determining whether demand is cooling enough for Brazil’s central bank to maintain interest rate cuts. Business confidence follows at 11:00 BRT. Brazil's market started Wednesday at 206,888, a 1.04% decline from Tuesday, after closing at 209,067 on Friday. The real depreciated by 0.81% against the US dollar over the same period, from 4.9871 to 5.0273.
The market's response to the two data points at the opening will determine the tone for rate-sensitive B3 names. Traders will closely monitor whether the Ibovespa can recover above its Tuesday close of 206,888.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
