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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.
BRAZIL
- USDBRL continues its steep ascent on Thursday in the face of broad greenback weakness, rising just under 4% and briefly eclipsing the post-election highs above 5.40. Furthermore, there has been severe pressure on swap rates with most of the DI curve rising by over 100 basis points amid renewed anxieties relating to the nation’s fiscal trajectory. Assets were given an additional headwind as the latest IPCA inflation data rose above surveyed estimates, prompting the gap lower at the open.
- Key short-term resistance for USDBRL has been defined at 5.4286, the Sep 29 high. While price trades below this level, the outlook remains bearish and a resumption of weakness would open the 5.0205 low on Nov 4. However, a break of this resistance would be a bullish development and place the next focus on 5.5142.
- Brazil Swap Rates
- Jan '23 +4.8 bps at 13.716
- Jan '26 +111 bps at 12.99%
- Jan '31 +95 bps at 13.03%
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.
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