BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Mexico’s Finance Ministry announced in its 2026 budget proposal that the country’s fiscal deficit is expected to narrow slightly to 4.10% of GDP, down from the projected 4.32% in 2025. The adjustment comes as Latin America’s second-largest economy is forecast to expand between 1.8% and 2.8%, marking an increase of 1.3 percentage points from previous estimates.
The government’s growth outlook is notably more optimistic than international forecasts. The International Monetary Fund (IMF) projects Mexico’s economy to expand by just 1.4% in 2026, while the Bank of Mexico anticipates growth at 1.1%. Inflation, however, is expected to align with central bank targets, with consumer prices forecast to close 2026 at 3.0%.
A significant focus of the budget is on state-owned oil giant Pemex, which continues to struggle under heavy debt. The government plans to allocate 263.5 billion pesos (about $14.14 billion) to help Pemex meet its debt and loan obligations. The move underscores ongoing pressure to stabilize the company’s finances while balancing public spending priorities.
President Claudia Sheinbaum’s administration is also considering trade measures. Following her remarks on possible tariffs against countries without trade agreements, including China, the proposal highlights a review of the “General Import Tax” to foster domestic development, though details remain limited.
In addition, the budget introduces new “healthy taxes” aimed at discouraging the consumption of certain products. These include higher levies on soft drinks, nicotine pouches, and even video games, reflecting a strategy to both raise revenue and promote public health.
The draft budget will now be debated in Congress, where Sheinbaum’s party and its allies hold majorities in both chambers, giving the plan a strong chance of approval.
