Free Trial
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
- The sharp correction in BRL (i.e. USD strength) in Q2 has been weighing on Brazilian equities, which have now erased most of their Q1 gains.
- Support for the USD has been surging since the beginning of April, mainly driven by the renewed geopolitical tensions, surging stagflation risk and rising recession risks (particularly in Europe).
- DXY index has been testing the 104 psychological resistance in the past week; a break above that level would open the door for a move up to 107.31 (Dec 2002 high).
- Ibovespa broke below its 104,640 support this week, which corresponds to the 38.2% Fibo retracement of the 61,690 – 131,190 range.
- Next level to watch on the downside stands at 100,000.
Source: 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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok