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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.
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Free AccessBRAZIL: Campos Neto to Speak in Congress, USDBRL Steady at 5.50
- BCB Governor Campos Neto is set to speak about monetary policy at a public hearing in a Congressional committee. Speaking yesterday, he said the Copom will unanimously do "whatever it takes" to bring inflation back to the 3% target, highlighting the recent uptick for inflation. Additionally, BCB’s Galipolo said that interest rate hikes are on the table on the back of worsening inflation expectations, echoing the minutes from the July meeting.
- USDBRL held a very tight range on Monday, oscillating either side of 5.50 for the majority of the session. Overall, bullish conditions remain intact, and the latest pullback is considered corrective. However, a clear break of the 50-day EMA (intersecting today at 5.4934) would undermine a bull theme and signal potential for a deeper retracement towards 5.3709, the Jul 11 low.
- Tier-two data highlights an otherwise subdued regional calendar at 1300BST/0800ET:
- June IBGE Services Volume YoY NSA, est. 0.8%, prior 0.8%
- June IBGE Services Volume MoM SA, est. 0.9%, prior 0%
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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.