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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
- The Brazilian real has dipped 1% on Friday amid the Bloomberg dollar index recovering into positive territory and now making session highs, higher US yields, weakness in iron ore prices and scepticism from market participants relating to the new IOF tax raise/funding of the new social program.
- Iron ore sank below $100 a ton as China's moves to clean up its heavy-polluting industrial sector spurred a swift and brutal collapse. Prices have more than halved since peaking in May as the world's biggest steelmaker intensifies production curbs to meet a target for lower volumes this year, and a sharp downturn in China's property sector impacts demand.
- USDBRL has been consolidating following the sharp reversal that refocused attention once again on key short-term support at 5.1163, Aug 31 low. Initial resistance is currently being approached at 5.3333, Sep 8 high. The key bull trigger is unchanged at 5.4741, Aug 20 high
MNI/Bloomberg
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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