In perspective · September 23, 2026 · Radar Inversión
Global markets enter this week with mixed signals. Technology shares have regained leadership, oil has retreated from recent highs and the US dollar remains supported by a still-restrictive monetary policy environment. These moves matter for Paraguay because they affect commodities, import costs, financing conditions, regional currencies and capital flows into emerging markets.
Technology returns to the center
The Nasdaq reached a new intraday record on September 22, supported by renewed optimism around artificial intelligence, semiconductors and corporate earnings. Investors are increasingly differentiating between companies that can monetize AI investment and those whose spending has yet to translate into growth or profitability.
Oil: less pressure, but high sensitivity
Brent moved back below USD 100 per barrel on September 22 as expectations improved around Middle East supply. For Paraguay, lower oil can reduce pressure on transport and imported fuel costs, although the local effect also depends on the exchange rate and domestic pricing mechanisms.
The Federal Reserve remains focused on inflation
The Federal Reserve raised its policy rate in September to a 3.75%-4.00% range. Recent comments from Fed officials show that inflation remains a central concern. If US rates stay high for longer, the dollar may remain firm and international financing costs may stay elevated.
Brazil and Europe: more moderate signals
Brazil cut its official 2026 growth forecast to 2.0%, reinforcing a more cautious view of the region’s largest economy. European equities posted modest gains while debt markets continued to reflect fiscal and financing concerns.
What to watch this week
- Whether the Nasdaq and S&P 500 can sustain recent levels.
- The path of Brent and any change in Middle East supply conditions.
- New Federal Reserve signals on inflation and interest rates.
- The dollar against the euro and emerging-market currencies.
- Soybeans, corn, gold and copper as relevant references for Paraguay and the region.
Radar reading: the global backdrop has become more supportive of risk assets again, but it still depends on two fragile variables: inflation and geopolitics. For Paraguay, the useful question is how those changes affect the dollar, commodities, rates and external demand.
Sources
Reuters — Nasdaq and technology, September 22, 2026
Reuters — Global markets and oil, September 22, 2026
Reuters — Federal Reserve and inflation
Reuters — Brazil 2026 growth forecast
Editorial analysis. This is not investment advice.