Free Trial

Bolsonaro Meets With Putin, Discuss Trade Relations

BRAZIL
  • The Brazilian Real continues to perform well and is the world’s top performing currency this year with a 7.9% gain. Edging higher yesterday, USDBRL extended below 5.20 and the broad rebound in the commodity complex and softer greenback are likely to act as additional BRL tailwinds in the short-term.
    • Ibovespa options expiration at B3 stock exchange.
  • President Bolsonaro landed in the middle of a diplomatic whirlwind in Moscow for talks with his Russian counterpart. Talks are ongoing today where Ukraine will not be on the agenda, instead, Bolsonaro will attempt to improve trade relations with a strategic partner.
  • Main local debate continues to be the bill aimed at changing taxes on fuels, which is expected to be discussed by lawmakers, and the potential sale of government-controlled power company Eletrobras.
    • Brazil’s Audit Court agreed with the methodology used by the government to calculate Eletrobras’ auction price.
    • Auditor Vital do Rego had suggested a change in methodology alleging that the operation was undervalued by 63b reais. (BBG)

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.