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June Loans Data, President Lula Meets With Haddad

BRAZIL
  • On Thursday, President Lula is scheduled to meet with economy minister, Fernando Haddad, before a separate meeting with Petrobras CEO and the mines and energy minister.
  • The weaker dollar may weigh on USDBRL at the open and promote fresh momentum below the recently cleared support at 4.75. Outstanding loans data headlines the data docket.
    • 1230BST/0730ET: June Total Outstanding Loans, est. BRL5.42t, prior BRL5.39t
    • 1230BST/0730ET: June Outstanding Loans MoM, est. 0.6%, prior 0.3%
    • 1230BST/0730ET: June Personal Loan Default Rate, prior 6.3%
    • 1800BST/1300ET: June Formal Job Creation Total, est. 163,000, prior 155,270
    • 1830BST/1330ET: June Central Govt Budget Balance, est. -BRL44.7b, prior -BRL45b
  • Additionally, Vale discloses its 2Q23 earnings report after markets close. On July 18, the company informed its output for the quarter, with iron ore production beating estimates.

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