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BRAZIL: BCB Focus Survey, Services PMI, December Trade Data

BRAZIL
BulletEM BulletEmerging Market News
  • The BCB will publish its usual weekly Focus survey at 1125GMT(0625ET), with attention on inflation and Selic rate expectations which continued to creep up last week. This will be followed by services and composite PMI data for December at 1300GMT(0800ET) and December trade figures at 1800GMT(1300ET). Analysts see the trade surplus narrowing to $3.35bn last month, from $7.03bn in November.
    • Dec. S&P Global Brazil Composite PM, prior 53.5
    • Dec. S&P Global Brazil Services PMI, prior 53.6
    • Dec. Trade Balance Monthly, est. $3.35b, prior $7.03b
  • On the political front, President Lula will meet with Finance Minister Haddad at 1300GMT(0800ET).
  • USDBRL closed 0.56% higher at 6.1854 on Friday, leaving the pair broadly unchanged on the week. The bull cycle in USDBRL remains in play, with sights on 6.3406 next, the 3.00 projection of the Aug 19 - 30 - Sep 19 price swing. A clear break of the 50-day EMA, at 5.9535, is required to signal a short-term reversal.
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  • The BCB will publish its usual weekly Focus survey at 1125GMT(0625ET), with attention on inflation and Selic rate expectations which continued to creep up last week. This will be followed by services and composite PMI data for December at 1300GMT(0800ET) and December trade figures at 1800GMT(1300ET). Analysts see the trade surplus narrowing to $3.35bn last month, from $7.03bn in November.
    • Dec. S&P Global Brazil Composite PM, prior 53.5
    • Dec. S&P Global Brazil Services PMI, prior 53.6
    • Dec. Trade Balance Monthly, est. $3.35b, prior $7.03b
  • On the political front, President Lula will meet with Finance Minister Haddad at 1300GMT(0800ET).
  • USDBRL closed 0.56% higher at 6.1854 on Friday, leaving the pair broadly unchanged on the week. The bull cycle in USDBRL remains in play, with sights on 6.3406 next, the 3.00 projection of the Aug 19 - 30 - Sep 19 price swing. A clear break of the 50-day EMA, at 5.9535, is required to signal a short-term reversal.