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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.
BRAZIL
- Despite reports of an imminent address from the President, we are yet to see any headlines confirming that Bolsonaro accepts the result of the election runoff, smoothing the way for a peaceful transition of power and preventing any escalation of social unrest around the country. Markets continue to be airing on the optimistic side, with a rallying BRL and lower DI swap rates across the belly and longer end of the curve.
- USDBRL has breached support at 5.1121, the Oct 4 low. Sustained weakness below this level would signal scope for a move towards 5.0108, the Aug 29 low.
- Initial resistance now resides at 5.2663, the 20-day EMA.
- Earlier on Tuesday, it was indicated that vice-president-elect Geraldo Alckmin will be coordinating the transition team for the government of Luiz Inacio Lula da Silva, according to Workers’ Party President Gleisi Hoffmann at a press conference in Sao Paulo. The team are to commence work on Thursday.
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.
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