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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 to take a breather, consolidating below the 5.00 mark. The pause in optimism for the Real comes in tandem with more volatile sessions in rates, with front end yields in the local swap curve partially retracing the push higher seen in recent weeks.
- Yields on DI contracts expiring in Jan '23 are potentially approaching pivot support around 6.85% (chart below). Despite the uptrend in front-end yields appearing to remain intact, yesterday's inflation gauge reading may have exacerbated the move seen in the past two sessions as markets look for signs that inflation may retrace in the short-term.
- June IGP-M, an inflation gauge more tied to wholesale prices, came in at 0.6% m/m vs 1% est., 4.1% prior; stronger-than-expected CPI decline may reduce bets for stronger more front-loaded tightening from the central bank.
- The June IPCA inflation readings are due to be released July 8th.
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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