A CEPEC report analyzed how market projections for the dollar, inflation and GDP changed over the year. For October, the consensus expects monthly inflation to close below 2%, with Facimex projecting 1.7%. Looking to 2027, inflation estimates rose from 19.3% in March to 21.2% in September, against 18% in the Budget. Dollar projections fell from $1,700 to $1,614 between March and September.
Mariana Camino, president and CEO of ABECEB, projected in Infobae en Vivo Argentine exports of between USD 100 billion and USD 106 billion, a record level that would reflect greater diversification of the sectors generating foreign currency. She said the country went from depending on agriculture to having four export engines. She mentioned that some 7,000 SMEs account for exports of about USD 8.3 billion and warned that economic opening forces companies to improve productivity and costs.
The British government approved the exploitation of the Jackdaw gas field in the North Sea, one of two projects that a Scottish court ruling in January 2025 had declared illegal for not considering scope 3 emissions. The NSTA authorised Shell and Equinor, through their joint venture Adura, to resume operations. The field will start producing at the end of this month and at peak will increase national gas production by about 6%. The government also announced an Energy Wealth Fund with an initial 2 billion pounds.
The dollar opened the October 21 session at 3,185 pesos in Colombia, an increase of 22 pesos compared with the 3,163-peso TRM set by the SuperFinanciera. In the first minutes the currency showed volatile behavior, with a maximum price of 3,185 pesos, a minimum of 3,182 and an average of 3,183. Traded volume so far stands at 750 million. Globally, the dollar index was down 0.18%, to 98.905 units.
Danone's president for Europe, Turkey, the Middle East and Africa (EMEA), Pablo Perversi, said at the 41st Aecoc Mass Consumption Congress in Seville that the company has room to gain size and grow in volume despite the rise of private label. According to the executive, Danone has changed 50% of the products on the shelf in four years and has gone from losing volume to gaining it. He also criticised private label for "copying" manufacturer brands and trying to lower prices.
The dollar started the session higher in Colombia. Daniel Londoño Tapia, Country Manager at Global66, notes that September US CPI rose to 3.7% year-on-year and core inflation to 2.6%, both above expectations, raising the probability of a Fed rate hike at its October 27-28 meeting. The currency reached COP 3,214 and closed at COP 3,183.80. Brent held around USD 105 and WTI rose 5.6% during the week.
Futures for the main US indices pointed to a positive open on Wednesday, in a session shaped by quarterly earnings. SpaceX rose 8.8% premarket after beating third-quarter profit expectations, and Super Micro Computer gained 12.2% after raising its revenue guidance. In contrast, Netflix fell 6.8% on revenue guidance below expectations and AT&T dropped 5%. The market awaited reports from Tesla, Meta and IBM after the close.
The market expects a fifth consecutive fuel price increase in Chile, ahead of Enap's price report. Economist Juan Ortiz (Universidad Diego Portales) projected increases of $41 for gasoline and about $90 for diesel, attributed to oil above US$100 a barrel since September due to the Middle East conflict and a strong dollar. The Centro Sur Truckers Confederation called the situation unsustainable and asked the government for measures.
According to DANE data analyzed by Cartagena Cómo Vamos, annual inflation in Cartagena stood at 5.94% in September 2026, below the national 6.29% and above the 5.13% of September 2025. Education (10.23%) and restaurants and hotels (8.58%) posted the largest annual increases, while transport and food moderated their variations. For the month, the city's CPI rose 0.29%, versus 0.37% nationwide.
The USD/MXN exchange rate is up nearly 0.5% and approaching 18.52 pesos per dollar, after August retail sales were reported to have grown 1.2% month-on-month and 3.3% year-on-year, above expectations. The market is weighing Banxico, which according to the Citi Survey would keep its rate unchanged for the rest of 2026 and in 2027, against the possibility that the Fed raises its rate again in December, which would narrow the rate differential.
The official Representative Market Rate (TRM) for Wednesday, October 21, stood at COP 3,163.76, an increase of COP 7.44 (0.24%) from Tuesday's COP 3,156.32, after several days of downward pressure. Against September 21 the TRM fell 0.91% (COP 29.16) and over twelve months it dropped 18.40% (COP 713.50), from COP 3,877.26 a year earlier. Exchange houses buy at an average of COP 3,112.83 and sell at COP 3,221.52 nationwide.
According to Kpler data, oil flows from the Middle East last week surpassed their pre-war level: more than 24 million barrels per day were exported, compared with 23.3 million before the conflict with Iran. Analysts attribute this to US military escorts for merchant ships, the use of shuttle tankers and routes alternative to the Strait of Hormuz, such as the Saudi East-West pipeline. Sources say Iran would export part of its crude via the United Arab Emirates. Brent neared $110 per barrel.
The dollar in Chile is little changed in early trading, around 975 pesos, after declines in previous sessions. There are no relevant local economic releases, so attention is on the international dollar, copper and the Federal Reserve. The metal falls about 1% on the LME on expectations that the United States may drop proposed tariffs on refined copper imports. The market widely expects the Fed to keep rates unchanged next week.
Ofgem opened the largest round of the Offshore Transmission Owner (OFTO) scheme, with transmission assets valued at around £3.5 billion tied to connecting Hornsea 3 to the British grid. Investors will compete to finance, operate and maintain already-built cables and offshore and onshore substations, with long-term revenues linked to inflation and asset performance for up to 25 years. Bids are due by January 14, 2027, with results expected in April of that year.
Brazil's National Electric Energy Agency (ANEEL) approved opening a public consultation to adapt the power sector's economic rules to the tax reform, which replaces PIS/PASEP and COFINS with CBS and IBS. The proposal adjusts regulated generation and trading contracts and the remuneration bases of concessionaires, aiming to prevent improper charges, double recognition and economic imbalances. Contributions can be submitted between October 21 and 30, 2026.
Zambia aims to exceed 10 GW of installed power capacity by 2031, up from the current 4722 MW and 3777 MW in 2024. Solar has already reached 1027 MW, a year ahead of the target set for 2026. The government is working on a roadmap coordinating new generation, transmission, financing and universal electricity access, while reviewing projects such as the 200 MW Kudu Solar and advancing a new interconnection with Zimbabwe.
The European Parliament's committee on industry, research and energy appointed MEP Oihane Agirregoitia (EAJ-PNV) as rapporteur for the new European Innovation Act, proposed by the European Commission in late September. The law seeks an ecosystem that allows ideas to be developed, financed and scaled without leaving Europe. Agirregoitia said the law will not create new funds but will help resolve bottlenecks so European ideas find customers, financing and clear rules.
The grain market is trading lower, with Chicago unable to recover and external declines affecting local business. Corn hits a two-and-a-half-month low on the advance of the harvest in the U.S. Midwest and the unwinding of fund positions, despite a cut in French production. Wheat reaches a three-and-a-half-month low on ample global supplies and the flow of Russian and Ukrainian exports through alternative routes.
US futures trade higher, led by the Nasdaq 100, supported by SpaceX results, which beat estimates and rise nearly 9% pre-market, and Super Micro Computer, up 2%. Netflix falls around 9% on its guidance. The pound strengthens after UK inflation of 3.5% annual, raising the odds of a 25 basis point Bank of England hike in November. Copper falls nearly 1% on doubts about Chinese demand.
Michael O'Leary, Ryanair's chief executive, expects European airfares to rise between 10% and 20% in 2027 due to higher fuel costs, environmental taxes and reduced capacity. He said that from April 2027 airlines will be largely unhedged on fuel and that 85% of Ryanair's fuel will be unhedged. The airline will cut 20 routes and 1.1 million seats in Belgium after the country's air tax rises from 2 to 7 euros.
