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Free AccessFinance Ministry’s Macrofiscal Bulletin Expected At 1730BST
- BRL had a volatile session yesterday as news that Petrobras CEO Prates had been fired weighed on sentiment initially, before the real recovered somewhat as the dollar weakened following the in-line US CPI and weak US retail sales figures. For USDBRL, support around the 50-day EMA, at 5.0826, has recently been pierced. A clear breach would open 4.9984, the Apr 10 low. Key short-term resistance has been defined at 5.1969, the Apr 30 high.
- Data wise, FGV IGP-10 inflation data for May will be released at 1200BST(0700ET), with analysts looking for a 0.95% m/m increase, vs. -0.33% prior. Meanwhile, the finance ministry will publish its Macrofiscal Bulletin for May at 1730BST, with forecasts for GDP growth, inflation and the fiscal outlook.
- On the political front, President Lula will meet with Finance Minister Haddad and Institutional Relations Minister Alexandre Padilha at 1430BST(0930ET).
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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.