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Industrial Production Data Due, Campos Neto Meets With Guedes

BRAZIL
  • Despite making fresh four-week lows at 5.1163 on Tuesday, USDBRL has edged higher to trade just below unchanged on the week. July industrial production data as well as PMI data due Friday will unlikely move the needle before the US August NFP report.
  • Markets will have one eye on next week's August IPCA inflation data where current estimates have the annual headline reading accelerating further to 9.49% Y/y.
    • 1300BST/0800ET: July Industrial Production MoM, est. -0.7%, prior 0.0%
    • 1300BST/0800ET: July Industrial Production YoY, est. 2.0%, prior 12.0%
  • Treasury auctions fixed-rate LTN local notes due 2022, 2023 and 2025; fixed-rate NTN-F local notes due 2027 and 2031; and Selic-linked LFT notes due 2023 and 2027
  • Central bank's Campos Neto in Brasilia: Meets with Chief of Staff Ciro Nogueira and Economy Minister Paulo Guedes.

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