MNI BRIEF: China Visitor Mobile Payments Surge in H1

MNI China Daily Summary: Friday, July 26

MNI BRIEF: Foreign Firms Content In China

MNI BRIEF: Turkish Inflation Expectations Steady- TEBA

MNI China Press Digest July 26: Deposit Rates, Fiscal, PBOC

MNI: PBOC Net Injects CNY299.05 Bln via OMO Fri

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL JUL INDEX 66.4

EZ/UK Bond Supply Calendar: BoE Short APF Operation on Monday

EZ/UK T-Bill Calendar: 9/12/28/50-Week BTF Auction on Monday

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

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

Iron Ore Decline Weighs On BRL At Open Before Reversing

BRAZIL
  • USDBRL opened marginally higher on Monday around 5.1250 but those gains have reversed almost immediately.
    • The modest negative sentiment perhaps stems from iron ore prices coming under pressure following a warning from Chinese authorities against publishing false market information and pledging to maintain tight supervision of pricing.
    • The steel-making ingredient fell around 4% after the National Development and Reform Commission said in a statement on Sunday that its officials had met with companies — which it didn’t identify — to remind them to “carefully verify and be accurate” before publishing information.
    • Overall, the recent USDBRL price action keeps the focus on 5.0108, the Aug 29/30 low.
  • Investigations remain ongoing following the January 08 riots. Federal Police have carried out five search warrants and three temporary arrest warrants in investigation of anti-democracy acts.
  • Finance Minister Fernando Haddad is in Davos for the World’s Economic Forum; he will join a panel on Latin America Thursday. The domestic data docket also remains fairly quiet with unemployment rate for November due to be published on Thursday, currently expected at 8.1%.
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.