Economic Week Ahead: Selic Decision, Fed Meeting, and U.S. Elections Take Center Stage

The upcoming economic week from November 4 to 8 brings a mix of crucial national and international events. Investors should pay close attention to these developments. The week kicks off with the release of the Focus Report on Monday.

The Brazilian Central Bank prepares this document, which outlines key market economic forecasts. Additionally, São Paulo’s inflation data will be released through the National Consumer Price Index (IPC). The Economic Research Institute Foundation (Fipe) will announce this figure.

Internationally, the spotlight falls on the Manufacturing PMI publication for the Eurozone and Germany. This indicator measures the construction sector’s health and activity level. China awaits the Services Sector PMI, which gauges purchasing managers’ activity levels in various service industries.

Tuesday marks the US presidential elections, with Donald Trump and Kamala Harris vying for the White House. The Composite PMI will be released for the US, Brazil, and the UK. Japan and the UK will also see their Services Sector PMI figures.

Wednesday’s focus shifts to the Selic Interest Rate, set by the Monetary Policy Committee (Copom). The current Selic rate stands at 10.75% per year. This rate reflects a 0.25 percentage point increase from September 18.

The Brazilian market will receive the General Price Index – Internal Availability (IGP-DI) on Wednesday morning. This index tracks price increases from agricultural and industrial raw materials to final consumer goods and services.

Thursday brings attention to interest rate announcements from the Federal Reserve and the Bank of England. Germany and China will release their trade balance data, showing import and export values for goods.

Friday concludes the week with the release of Brazil’s official inflation measure, the Broad National Consumer Price Index (IPCA). The US will publish the University of Michigan’s economic sentiment results and China its CPI.

Economic Calendar for the Week, October 4 to 8, 2024

Monday, November 4

Brazil

• 5:00 AM – Fipe CPI (Oct)
• 8:25 AM – Focus Bulletin

Eurozone

• 6:00 AM – Manufacturing PMI

Germany

• 5:55 AM – Manufacturing PMI

China

• 10:45 PM – Services PMI

Tuesday, November 5

United States

• 7:00 AM – Presidential Elections
• 10:30 AM – Trade Balance
• 11:45 AM – Composite PMI

United Kingdom

• 6:30 AM – Composite PMI
• 6:30 AM – Services PMI

Brazil

• 10:00 AM – Composite PMI
• 10:00 AM – Services PMI

Japan

• 8:50 PM – Monetary Policy Meeting Minutes
• 9:30 PM – Services PMI

Wednesday, November 6

Brazil

• 8:00 AM – IGP-DI
• 3:00 PM – Trade Balance
• 6:30 PM – Selic Interest Rate (Copom)

Germany

• 5:55 AM – Services PMI

Eurozone

• 6:00 AM – Composite PMI
• 6:00 AM – Services PMI

Thursday, November 7

United States

• 4:00 PM – Interest Rate (FOMC)

China

• 12:00 AM – Trade Balance

Germany

• 4:00 AM – Trade Balance

United Kingdom

• 9:00 AM – Interest Rate Decision (Bank of England)

Mexico

• 9:00 AM – CPI

Friday, November 8

Brazil

• 9:00 AM – IPCA

United States

• 12:00 PM – University of Michigan Consumer Sentiment

China

• 10:30 PM – CPI

Economic Week Ahead: Selic Decision, Fed Meeting, and US Elections Take Center Stage

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