MNI BRIEF:NGEU To Lift Growth Less Than Expected -ECB Bulletin

MNI BRIEF: US Hiring, Pay Growth Continue Downshift- ADP

MNI BRIEF: EZ Short-Term Uncertainty Low, Long-Term High -ECB

MNI China Daily Summary: Wednesday, January 8

MNI: PBOC Net Injects CNY1.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1887 Weds; -2.33% Y/Y

US EIA: CRUDE OIL STOCKS EX SPR -0.96M TO 414.6M JAN 03 WK

MNI:US NOV WHOLESALE INV -0.2%; SALES 0.6%

MNI: US JOBLESS CLAIMS -10K TO 201K IN JAN 04 WK

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

BRAZIL: Haddad Acknowledges Need To Communicate Better

BRAZIL
BulletEM BulletEmerging Market News
  • Speaking in an interview with Globonews TV today, Finance Minister Haddad acknowledged that the government needs to communicate better and that taking a long time to announce the fiscal plan was a problem. He admitted that the MoF and Planning Ministry sometimes make mistakes in communication but added that the government is working to be more cohesive in its communication.
  • On the fiscal front, Haddad said that the government will continue working on fiscal measures and will deliver fiscal results without bending the rules. He has told President Lula that the government need to be fiscally diligent, adding that Brazil will surprise markets this year with better fiscal results, following an estimated 0.1% of GDP primary deficit last year.
  • Against this backdrop, DI swap rates have fallen around 10bp at the 2Y segment today, while USDBRL remains 0.5% lower, around 6.08, leaving the pair 2.5% below the Dec 30 high. USDBRL has breached initial support at the 20-day EMA and a deeper retracement will target the 6.00 handle and the 50-day at 5.9650. Focus ahead turns to Nov IP tomorrow, followed by retail sales figures on Thurs and Dec IPCA inflation data on Friday.
192 words

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.
  • Speaking in an interview with Globonews TV today, Finance Minister Haddad acknowledged that the government needs to communicate better and that taking a long time to announce the fiscal plan was a problem. He admitted that the MoF and Planning Ministry sometimes make mistakes in communication but added that the government is working to be more cohesive in its communication.
  • On the fiscal front, Haddad said that the government will continue working on fiscal measures and will deliver fiscal results without bending the rules. He has told President Lula that the government need to be fiscally diligent, adding that Brazil will surprise markets this year with better fiscal results, following an estimated 0.1% of GDP primary deficit last year.
  • Against this backdrop, DI swap rates have fallen around 10bp at the 2Y segment today, while USDBRL remains 0.5% lower, around 6.08, leaving the pair 2.5% below the Dec 30 high. USDBRL has breached initial support at the 20-day EMA and a deeper retracement will target the 6.00 handle and the 50-day at 5.9650. Focus ahead turns to Nov IP tomorrow, followed by retail sales figures on Thurs and Dec IPCA inflation data on Friday.