MNI China Daily Summary: Wednesday, July 17

MNI China Press Digest July 17:  Investment, LPR, H2 Priority

MNI BRIEF: NZ CPI Prints Lower Than Expected At 3.3% Y/y

MNI: PBOC Net Injects CNY268 Bln Via OMO Wed; Rates Unchanged

CHINA PBOC CONDUCTS CNY270 BILLION VIA 7-DAY REVERSE REPOS WED

MNI: PBOC Sets Yuan Parity Lower At 7.1318 Wed; -1.32% Y/Y

Final June HICP Confirms Sticky Services Narrative

MNI: EUROZONE JUN FINAL HICP +0.2% M/M, +2.5% Y/Y

Survey date avoids Swift concerts - but accomodation is still very high

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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

IPCA Inflation Data Due, Lower House Passes Spending Bill

BRAZIL
  • Monthly inflation is estimated to breach 1% for a second consecutive month, while 12-month inflation should remain in double-digits, expected to rise to 10.48%.
  • Pressures from food, electricity and fuel prices continue to keep the headline rate on an upward trajectory. Worth noting Petrobras raised gasoline prices twice in October amid a continued rise of international prices and persistent currency weakness.
  • Today's prints, combined with the ongoing BCB focus survey results will likely sculpt expectations for the December Copom meeting and any potential acceleration of the already aggressive tightening of policy.
  • USDBRL hovers right at the May/August highs around 5.48, the low end of the most recent range, with key trend support defined at 5.4342, Oct 15 low. Traders will await the domestic data before US CPI becomes the dominant driver for the greenback.
    • 1200GMT/0700ET: Oct. Brazil CPI IPCA MoM, est. 1.06%, prior 1.16%
    • 1200GMT/0700ET: Oct. Brazil CPI IPCA YoY, est. 10.48%, prior 10.25%
  • Brazil's lower house of congress passed a controversial proposal that bends the country's fiscal rules to finance a new social program President Jair Bolsonaro is launching ahead of his 2022 re-election campaign. (BBG)
    • The so-called precatorios bill was approved late on Tuesday by 323-172 votes, a wider margin of support than it had received just a week ago. It now needs the backing of three-fifths of senators, also in two rounds of voting. Senate President Rodrigo Pacheco still has to decide whether the proposal will be analyzed by the constitution and justice committee before the floor vote.
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.