CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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

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

IPCA Inflation In Focus As USDBRL Eyes Next Leg Lower

BRAZIL
  • USDBRL continues to consolidate just above 5.00 as markets await the latest set of inflation data, both domestically and in the US.
  • Swap rates will react to May IPCA data due 1300BST/0800 ET where annual inflation is expected to have reached 7.93% versus BCB's central target of 3.75% and upper limit of 5.25.
  • If inflation exceeds the estimates, short-end swaps may rise and the Brazilian real may have an extra boost to breach key level. The next COPOM meeting will take place in a weeks time on June 16th where the Central bank are expected to hike by another 75 basis points as part of their 'partial normalisation' process.
  • Officials have been particularly worried with services inflation as the economy fully reopens, as underscored by BCB President Roberto Campos Neto on Tuesday, adding that services will be one of the focuses of the BCB meeting next week. Markets remain eager to see signs the BCB will abandon the phrase "partial normalisation" and continue with their aggressive tightening cycle.
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.