MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI: UK DEC GFK CONSUMER CONFIDENCE INDEX -17

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Analysts Revise Call For More Aggressive BCB Tightening Ahead

BRAZIL
  • USDBRL matched last Monday's lows around 5.1525 on Monday. 5.1150 would close the gap to the prior week's close. Below here, initial support is at 5.0550, Jul 15 low. Continued flattening in the DI swaps curve highlights markets now pricing more aggressive action from the Copom next week.
  • **This was supported by JPMorgan altering their call, now expecting 100bp hikes in August and September meetings. While keeping their end-of-the-cycle SELIC rate at 7.5%, they now see the following path: another 100bp hike in September, followed by a 75bp in October and a final 50bp in December, ending the year at 7.5%.
    • They cite higher inflation expectations and a spike in services in the last IPCA-15 reading.
  • Today: Brazil is expected to report a current account surplus of $3.80b in June, according to economists surveyed by Bloomberg, after a $3.84b surplus in prior reading. Central Bank releases report on its website at 9:30am. Treasury auctions of inflation-linked NTN-B local notes due 2026, 2030 and 2055.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.