Free Trial

Ash Wednesday Holiday, BCB Focus Survey

BRAZIL
  • Despite the Ash Wednesday Holiday today, there will be a partial trading schedule between 1300-1655 local time.
  • Some pressure on emerging market currencies and a slightly firmer greenback may place some upward pressure on USDBRL at the open. Markets ended last week on a more optimistic note as the debate around adjusting the inflation target has died down for now.
  • Central Bank releases Focus survey with analyst’s estimates for GDP, FX, inflation and Selic interest rate, on its website at 2pm Brasilia time (1700GMT). In the previous survey, economists raised 2023 IPCA official inflation index forecast to 5.79%. Attention tu will be on mid-month inflation data, due Friday.
  • Analysts note that attention will be on President Lula’s announcement of the replacement of Bruno Serra on BCB’s board. Worth noting that local assets are likely pricing in a PT-linked appointee.
  • Finance Minister Haddad and Central bank’s Campos Neto travel to G-20 finance ministers and central bank governors meet in India.

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.