GlobalSource Partners | Country Insights

A skimmable summary overlaid with our analysis and links. Headlines: * The war heated up, with the first US strikes in a month and Iranian retaliation against Jordan and the GCC. * Trump and Vance insisted the US is in no hurry to negotiate, despite the looming midterms. * Oil surged back to...

The STF crisis continues to escalate, and the latest polls show Lula ahead of Flávio in the first round but tied in the runoff, so there is currently no clear favorite in the presidential race

BRAZIL POLITICS · Report · 04 Sep 2026

The crisis at the Supreme Federal Court (STF) continues to escalate. Yesterday, Justice Alexandre de Moraes requested that Justice André Mendonça be investigated as part of the fake news inquiry for abuse of authority. The full Court will now have to decide whether to investigate Justice Alexandr...

Bank of Israel officials strike a relatively dovish tone after the rate cut

ISRAEL · In Brief · 04 Sep 2026

Bank of Israel officials strike a relatively dovish tone after the rate cut Following yesterday's 25bp rate cut to 3.25%, comments by Governor Amir Yaron and Deputy Governor Andrew Abir reinforced the relatively dovish message. Both emphasized that underlying growth is considerably more moderate ...

TOPIC OF THE WEEK: Non-gold exports put a floor under the Uzbek som

CAUCASUS / CENTRAL ASIA · Report · 04 Sep 2026

My readers know that I prefer to look at FX developments in the CCA region chiefly through the prism of the Russian RUB. I have repeatedly argued that this provides the best first-order approximation of the various other relevant factors affecting currency behavior in the region. This time around...

Looks like the MNB may have intervened for the forint verbally yesterday

HUNGARY · In Brief · 04 Sep 2026 · 1 response

Following a short period of weakening on external factors, which we dealt with in our previous note two days ago, the forint gained strength again yesterday, after a 'rumour' reported by Bloomberg that afternoon. The news was that at the next rate-setting meeting on September 22, the Monetary Cou...

Economic growth remains sluggish in July

RUSSIA ECONOMICS · In Brief · 03 Sep 2026

Recent economic data came as no surprise. After Rosstat reported a 0.6% y-o-y GDP increase in 1H26, it noted that in July the combined output of the five basic sectors (industry, agriculture, construction, transportation, and trade) grew by 0.8% y-o-y, bringing growth for 7M26 to just 0.1% y-o-y....

Peso strengthens, amid solid growth, persistent inflation and tighter financial conditions

DOMINICAN REPUBLIC · Report · 03 Sep 2026

Economic activity remained resilient in July, expanding by 4.6% y/y and bringing cumulative January-July growth to 4.5%. But the policy environment has shifted considerably since 2025. Headline inflation eased to 5.47% in July, but remained above the Central Bank's target range, while core inflat...

August inflation: more of the same

TURKEY · Report · 03 Sep 2026

Consumer prices rose by 1.8% m/m in August, slightly below median expectations, with the annual CPI inflation edging down slightly to 31.5% from 31.8% in July. Domestic PPI increased by 2.6% m/m in August, raising the 12-month PPI inflation rate slightly to just under 30% (27.9%) from 27.8% in Ju...

Pressure on the STF continues to build, Alcolumbre will meet with party leaders to discuss impeachment requests against Justice de Moraes, and the government secured important advances in Congress

BRAZIL POLITICS · Report · 03 Sep 2026

New information about Brazil’s Supreme Federal Court (STF) has emerged, further increasing pressure on the Court. Justice André Mendonça, the justice overseeing the Banco Master case before the STF, met with Daniel Vorcaro without the Federal Police present. Today, Senate President Davi Alcolumbr...

Russia: a brief market watch

RUSSIA ECONOMICS · In Brief · 02 Sep 2026

The USD/RUB continued to slide in recent weeks, having surpassed the 87 mark and moving closer to 88. Generally the FX market entered a period of correction that followed months of an unhealthy appreciation of the currency amid increased oil prices and their high volatility The recent ruble depre...

New evidence from the Vorcaro case was presented by the Federal Police, the opposition filed impeachment requests against Justice Moraes, and the Joint Committee may vote on the so-called “blouse tax”

BRAZIL POLITICS · Report · 02 Sep 2026

Supreme Federal Court (STF) Justice André Mendonça, who is overseeing the investigations into fraud involving Banco Master, suggested in a decision released on Tuesday (September 1) that new evidence presented by the Federal Police (PF) in the case be reviewed by the full Court. Mendonça lifted t...

Fiscal predicament even worse than expected

COLOMBIA · Report · 02 Sep 2026 · 1 response

Finance Minister Miguel Gómez’s presentation of the 2027 budget has brought Colombia’s fiscal predicament into sharper focus. The budget confirms that the fiscal situation inherited from the Gustavo Petro administration was significantly worse than previously acknowledged. The NCG deficit is now ...

Seeking security!

CHILE · Report · 02 Sep 2026

Q2 national accounts reinforced the loss of momentum in activity so far in 2026. Both total and non-mining GDP remained broadly stagnant in H1. We have therefore revised our 2026 GDP growth forecast down to 0.5%. Nonetheless, we remain relatively optimistic about 2027. High copper prices conti...

Most recent forint weakening is entirely due to external factors

HUNGARY · In Brief · 02 Sep 2026

The forint's weakening against EUR and USD, seen so far this week, does not really point in the direction of another base rate cut in September. But it is important to know that it can be traced back entirely to external factors, such as Russia/Ukraine, the Middle East, global energy prices and a...

From refineries to airspace: Russia's war enters a new phase of escalation

UKRAINE · In Brief · 02 Sep 2026

The war is clearly entering a new phase of escalation. Widely discussed and widely expected, it is now unfolding in real time. Zelenskiy's statement on September 1 that Russian airspace will effectively be closing marks a new level of pressure on Moscow and St Petersburg — one that the Russian le...