May 20, 2024

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Written by Jeffrey Smith and Jessica Bahia Milo – Tuesday will be marked by economic data from the United States and Brazil. In the North American country, there is data from retail trade and industrial production, as well as balance sheets from Walmart and Home Depot .

and others Cryptocurrency It is where the market absorbs the fact that the final version of the infrastructure project included some limitations and potentially onerous reporting requirements. The International Energy Agency accepts that the tide is turning, and is jumping after strong UK employment data replayed its role in the hike in interest rates in December.

In Brazil, reveal, preview, as well as expect to pay for a new social program.

Here’s what you need to know about the financial markets on Tuesday, November 16th.

Check:’s complete economic calendar

1. US retail data

How strong is US consumer confidence towards the holiday season? We’ll know on Tuesday, when the October data will be reported.

Analysts expect a 1.2% increase from September, which would be the biggest monthly advance since March, when the US lifted most store ban restrictions. There is an implied tension between those expectations and the index, which fell to a 10-year low earlier this month.

This can partly be explained by the fact that a large part of the increase in retail sales is due to higher prices.

Tyson Foods (NYSE:) It became the latest company on Monday to quietly announce that it is passing higher entry prices to customers.

The national data will likely find echoes in the budgets of Walmart (NYSE: SA 🙂 and Home Depot (NYSE 🙂 (SA :)), both of which were previously released.

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Check: Balance Sheet Calendar

2. Brazilian New Aid Eve

Without spending cuts and with next year’s budget at the limit, the federal government will begin this Wednesday (17) Brazilian aid for 14.6 million families. Replacing the Bolsa Família, the resources for the new Social Program will be paid by the end of 2022. In the transition of programs, all Bolsa Família beneficiaries will automatically receive the adjusted amounts. The program maintained the payment dates of the previous social program, according to the calendar already defined by the social registration number (NIS).

The average amount paid per interest will be R$217.18 in November, an increase of 17.8% compared to the Bolsa Família, according to the government. However, the promise was that the resources would amount to R$400 – which, according to the Citizenship Ministry, would happen if the PEC dos Precatório was approved. The Presidential Election Commission deferring union payments and collections was approved by the Justice Department in a second round in the House last week, but it remains to be processed in the Senate.

With the new program pushed, the government is delaying a fiscal adjustment, which would reorganize public accounts in the post-pandemic period. The original text of the budget bill for 2022, sent in late August, projected an initial deficit of 0.6% of GDP, which should be changed. According to Economy Minister Paulo Guedes, Brazilian aid should have an impact of 1% of GDP on 2022 spending.

Check: Brazilian stock prices

3. The set of procedures for opening an apartment after a conversation between Biden and Xi

US stocks were set to open another flat after a lackluster day on Monday when they struggled to stay in the blue. The prolonged phone call between the two presidents and Xi Jinping produced a positive mood but little tangible news.

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At around 8:54 AM Brasilia Time, prices were up 0.12%, while contracts were up 0.2% and 0.04%.

In addition to Walmart and Home Depot, stocks likely in focus later include Chinese gaming company NetEase (NASDAQ 🙂 (SA :), which has revived plans to go public with its music business, according to the Wall Street Journal. The company’s balance was slightly below expectations, but revenue came in ahead of expectations.

Check: Pricing of major global futures indices

4. Cryptocurrencies fall with implications for the infrastructure sector

Cryptocurrencies fell on all levels as the market digested the implications of a clause in the infrastructure bill that threatens heavy reporting requirements on the transfer and receipt of such funds.

The bill states that digital asset transactions over $10,000 must be reported to the IRS, which will increase administrative costs for many crypto brokers as well as prevent trade in illicit goods and services that generate the most ultimate demand for crypto.

At 9:04 am, bitcoin was down 7.91% to $60,391.8.

Back in the realm of real currencies, steel rose after strong UK labor market data put the possibility of a rate hike back on the agenda at the upcoming Bank of England meeting.

Check: Quote for more than 6 thousand cryptocurrencies

5. Rising oil prices

Crude oil prices rose overnight, despite new indications that the global balance between supply and demand may finally shift in favor of consumers.

The International Energy Agency said it expects global oil supplies to grow by an average of 1.5 million barrels per day in the last two months of this year, helped by a 400,000 barrel per day increase in US production. It also assumes that OPEC and its allies are pumping the quantities they promised to pump – even though the bloc has not achieved its goals in the past two months.

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At 9:04 am, West Texas Intermediate crude futures rose 0.56% while rising 0.65 a barrel. Weekly stock data will be released at 6:30 PM.

Check: Quote from major global commodities