I guess the focus will be on the European Central Bank and Drafhi, it might be a wee 'on hold' ahead of thatBut, coming up…2145 GMT New Zealand – Trade Balance for September, expected -900m, prior -1235mexports expected 3.9bn, prior 3.69bnimports expected 4.88bn, prior 4.92bn2350 GMT – Japan – PPI (services) for September, expected 0.8%, prior 0.8%A small sign of inflation here, but it hasn't leaked into the consumer rate too much
ps. Ahead of the ECB, some previews:Barclays expect President Draghi to announce a nine-month extension of the APP at a lower pace of EUR30bn per monthMorgan Stanley outlook for the ECB meeting this week and BoE nextUBS on what to expect from the ECB this weekECB meeting & EUR/USD scenario analysis ('Cheat Sheet' preview)EUR/USD: There is a 'usual pattern' around this week's ECB meetingRead More →

“Banco Central do Brasil bombshell!” would be a good headline, but the extent of the cut was widely expected – ah well.rate to 7.5%says interest rate decision was unanimoussays moderate reduction of pace of easing could be appropriate at next meeting given stage of cyclemonetary easing will continue to depend on economic activity, balance of risks, inflation outlookBank removes reference to expectation of gradual end to easing cycleForecasts 2017 inflation at around 3.3 pct vs 3.2 pct in quarterly inflation reportForecasts 2018 inflation at around 4.3 pct vs 4.3 pct in quarterly inflation reportForecasts 2019 inflation at around 4.2 pct vs 4.2 pct in quarterly inflation reportSays downside risks for inflation include possible secondary effects of favorable food price shock and low industrial inflationSays downside risks for inflation include possible price inertia extending low inflation over time Summary Headlines via ReutersRead More →

Argentinean state-owned oil company YPF plans to invest US$ 30 billion over the next five years (2018 to 2022), according to a strategic plan released Wednesday. The company intends to contribute directly with US$ 21.5 billion, while the remaining would come from partnerships and YPF's associated companies.
According to the plan, YPF's production of oil and gas should grow at an annual rate of 5%, reaching 700,000 barrels of oil equivalent per day (boed) in 2022.
With the focus on cost improvement and operational excellence, the conventional hydrocarbon will be the basis of the company's production, with the development of more than 29 projects and the drilling of more than 1,600 wells, YPF said in a statement.
Meanwhile, estimated non-conventional production should grow 150% and half of the company's hydrocarbon production by 2022 should come from shale and tight oil and gas.
YPF would also focus on exploration with the aim of expanding reserves by 50%.Read More →

Crude oil prices fell Wednesday after U.S. government data confirmed a build in domestic oil stockpiles.
A day after the American Petroleum Institute reported similar figures, the U.S. Energy Information Administration Wednesday said inventories rose by 900,000 barrels for the week ended Oct. 20.
Gasoline stockpiles dropped by 5.5 million barrels for the week, while distillate stockpiles fell 5.2 million barrels, according to the EIA.
Meanwhile, U.S. stocks had their worst day in two months, with DJIA losing 100 points from yesterday's record peak.
WTI light sweet crude oil fell 29 cents to settle at $52.18 a barrel.Read More →