MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

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

BRL Consolidating Recent Strength, VAT Tax Reform Passes Through Senate

BRAZIL
  • The Senate's Committee for Constitution and Justice (CCJ) approved the VAT tax reform on Tuesday. Itaú note the text has to pass two rounds of voting on the Senate, whose plenary is scheduled to discuss the proposal today. If approved, it will return to the Lower House, which has already approved the reform but needs to vote on the proposed changes made by the Senate.
  • USDBRL traded sharply lower late last week, and the pair has consolidated this move over the past two sessions. The pair has breached trendline support at 4.9647. The trendline is drawn from the Jul 28 low and the break confirms a resumption of the downtrend that started Oct 6. Note too that this also cancels a recent bullish theme. Sights are on 4.8408 next, the Sep 19 low and the 4.8000 handle. Initial firm resistance is at 5.0696, the Oct 31 high.
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.