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Economy Ministry Agree To Work For Public Employee Wage Increase

BRAZIL
  • USDBRL reopened following the Monday holiday on a firmer footing. The supportive dollar price action aided USDBRL back to 5.50, filling the gap from last Thursday's open. As well as greenback strength, some renewed bearish local sentiment potentially in play as investors watch Congressional discussions in the Senate on the bill aimed at changing the spending cap rule.
  • No significant data points scheduled until next Thursday's mid-month IPCA data as well as the weekly update on inflation/GDP expectations in Monday's BCB Focus Survey.
  • Members of Brazil's economic team agreed to work for a wage increase for public employees during an election year, Folha de S.Paulo newspaper reported citing members of Economy Minister Paulo Guedes' team. (BBG)
    • Economic team warned that the measure will require cutting expenses in other areas.
  • Brazil's imports of liquefied natural gas will continue to grow in the next two to three years, Mines and Energy Minister Bento Albuquerque said to reporters at the Adipec conference in Abu Dhabi. (BBG)
    • Brazil to double number of LNG import terminals to eight by 2030.
    • Country will seek to double its output of gas in the next eight years.
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