The U.S. dollar and the euro rose again on Tuesday, October 20, in Cuba's informal currency market, closing at 818 and 908 Cuban pesos (CUP) respectively, according to CiberCuba's exchange rate reference as of 8:00 p.m. local time. Both currencies reach their highest values in the last 30 days. The Freely Convertible Currency (MLC) stands at around 587 CUP, with limited data making its quote indicative.
The Citi Expectations Survey, published on October 20, showed that the analyst consensus expects Banco de México to keep the interest rate at 6.50% through the end of 2027, with no change at the November 5 meeting. Of 37 specialists, 25 do not foresee changes for the rest of 2026 or in 2027. Banxico's minutes from October 8 revealed that three of the five Board members opened the door to evaluating a cut. The consensus also raised its exchange rate forecast to MXN$18.20 per dollar by the end of 2026.
Wells Fargo & Co.'s confidence indicator is issuing a "buy" signal for the first time since June 2025, according to analysts led by Ohsung Kwon, after a drop in US stocks driven by concerns over AI and high oil prices. Previous signals lifted the S&P 500 by an average of 6.5% over the following three months in 89% of cases. The bank expects big tech and infrastructure software to lead the advance, while remaining cautious over slowing earnings and negative liquidity.
Prudential Financial agreed to sell its operations in Brazil and Mexico to Grupo CNP Assurances for US$4 billion, as part of its strategy to reduce its presence in emerging markets. The proceeds will go toward strengthening its asset management business, particularly in private alternative assets, and its group insurance business, as well as investing in certain pension markets in Europe, according to CEO Andrew Sullivan. Prudential has already exited nearly 60% of the emerging markets it intends to sell; India, Ghana and China remain.
Five digital-origin financial institutions now operate as banks in Mexico: Openbank (early 2025), plus Revolut, Hey, Plata and Nu during 2026. According to CNBV figures for August, they hold 200,009 million pesos in assets, 1.2% of the sector total, which exceeds 16.4 trillion pesos. Nu, which began operating as a bank in August, reports 112,638 million in assets and a profit of 396 million. BBVA México, Santander and Banorte still lead by size.
América Móvil beat market forecasts on its main third-quarter indicators, posting EBITDA of MXN$102 billion (US$5.5 billion), above the average analyst estimate; revenue and net profit also exceeded expectations. The user registration required by the Mexican government hit prepaid, where growth in service revenue in Mexico slowed to 4.3%, from 5.3% in the prior period. Postpaid accelerated to 8%. Mexico began suspending unregistered prepaid lines in August.
The Madrid Provincial Court upheld the challenge by Santander, BBVA, CaixaBank, Abanca and Ibercaja and ruled that the restructuring plan of two subsidiaries of Spanish textile firm Mirto will not extend its effects to the banks. The court instead dismissed the challenge against the plan of the parent company, Mirto Corporación Empresarial, which becomes final. The four homologated plans envisaged repaying 27 million euros without write-offs, with a four-year grace period. Management is now seeking new solutions, including a consensual plan with the banks.
Kite (gokite.ai) is an execution and payments infrastructure layer for autonomous AI agents in Web3 that routes transactions in under one second, manages each agent's cryptographic identity and enables cross-chain micropayments with low fees. A review published on Quasa.io, which rewards 1 QUA token to anyone who posts a review, gives it 4.7 out of 5. The text also reviews sector figures: x402 surpassed 100 million agentic payments on Base, and HSBC and Ant Digital tested micropayments with tokenized deposits.
Spain's CNMV expects to have ready in less than four months the list of products that can be included in the government's Financia Europa Savings and Investment Account. The regulator will keep the registry where asset managers must register the funds that meet the requirements. Its chairman, Carlos San Basilio, encouraged asset managers to develop more products matching the account's specifications. According to Inverco, fewer than 10% of Spanish funds, around 130 vehicles, meet the requirements.
The Central Bank of Argentina bought USD 103 million on Tuesday and extended its streak to 16 consecutive sessions with a positive balance in the foreign exchange market. In October it has accumulated purchases of USD 1,104 million, more than double the USD 473 million of September. Since January 2026, inside and outside the FX market, it has added USD 15,672 million, above the USD 10,000 million annual target under the IMF agreement. Gross reserves closed at USD 50,201 million.
The Senate approved the appointments proposed by the Executive for Chile's Financial Market Commission (CMF): Macarena Lobos and Juan Esteban Laval, who will replace Bernardita Piedrabuena and Augusto Iglesias. The vote was 31 in favor, 11 against and three abstentions. Before the vote, both lawyers appeared before the Senate Finance Committee. Laval listed financial system stability, broader access to credit and greater competition as priorities.
UBS says in a report that it likes real assets for 2027 and highlights three categories: real estate, infrastructure such as power grids, telecommunications and digital infrastructure, and commodities. The Swiss bank argues these assets can diversify a portfolio and strengthen its resilience, including preserving purchasing power in high-inflation scenarios. It links its call to AI-driven demand for data centres and electricity, lower real estate development activity and gold's role amid fiscal and geopolitical uncertainty.
India, the world's third-largest solar generator, curtailed about 4.2% of its photovoltaic output during July and August, despite a period of record electricity demand. The country reached 168 GW of solar and raised its photovoltaic generation 39% year on year in the second quarter of fiscal 2026-27. Grid constraints and low operating BESS capacity caused curtailments of 1,462 million units in those two months, even with record peak demand of 270 GW.
Unemployment in the United Kingdom unexpectedly fell to 4.7% in the three-month period ending in late August, according to data released by the Office for National Statistics (ONS). It is the lowest rate since the three-month period ending in late July 2025. Analysts had expected unemployment to remain at 4.9%. The agency also reported a rise in youth unemployment.
Unemployment in the United Kingdom unexpectedly fell to 4.7% in the three-month period ending in late August, according to official data released on Tuesday. Youth unemployment remains a concern, according to the report.
The IMF projects that Brazil will return to the top 10 of the world's largest economies by 2027, overtaking Italy and Russia, driven by agricultural exports and technological improvements, according to the WEO report. The United States and China lead the ranking of major powers. The institution cut its forecasts for Brazil: in July it projected 2.4% growth for this year and 2.2% for 2027, and the October edition lowered the estimates.
The Euribor stood at 3.245% on Tuesday, October 20, 2026, 0.012 points above the previous session's level, according to Expansión. The index, which sets the interest rate at which European banks lend to each other, is moving toward 3.3%.
Repsol will propose a share buyback of between 500 and 1,000 million euros after posting better-than-expected summer results. Its shares rise nearly 1%, driven by gains in Brent and WTI crude oil and by expectations that the company will soon announce improvements in shareholder remuneration following the summer results.
F.N.B. reported net income of $152.9 million in the third quarter of 2026, or $0.43 per diluted common share, compared with $149.5 million ($0.41) in the same quarter of 2025. The quarter posted record net interest income of $376.5 million and widened its net interest margin.
According to CNN en Español, France is nearing a fiscal crisis because it has spent more than it can repay, and faces a political and economic reckoning. The outlet says the situation is dangerously familiar to Americans and asks whether the United States will follow.
