MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI China Daily Summary: Monday, December 9

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FX Market Inflows Reached $5.2bn In January, Carnival Next Week

BRAZIL
  • The Brazilian real has opened on a firmer footing this morning, after coming under some pressure yesterday along with other regional FX on the back of a robust US dollar. For now, USDBRL continues to trade below the key resistance at 5.0017, the Jan 23 high. Worth noting that the upcoming carnival holiday may impact local trading conditions given the market won’t resume operations until Wednesday afternoon, after the release of key US CPI data.
  • Meanwhile, Itau note that the FX market registered a net inflow of $5.2 bn in January, with an inflow of $4.7 billion on the trade front and $510mn due to financial flows. They note that January’s result was better than in recent years, mainly due to the more robust trade-linked inflows. Looking ahead, they expect FX flows to repeat the positive trend this year, although the magnitude may be slightly less than in 2023.
  • Data released earlier showed that IBGE services volume rose by 0.3% m/m (sa) in December. Though this was below the +0.8% consensus, it followed an upwardly-revised +0.9% m/m gain the month before. In annual terms, services volume fell by 2.0% y/y, vs. +0.4% prior. Also earlier, weekly FIPE CPI rose by 0.43%, vs. +0.34% prior. No further domestic data releases scheduled today, with attention turning to December economic activity data next week.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.