Free Trial

Markets Reopen After Carnival, BCB Workers Set To Strike Next Week

BRAZIL
  • The stock market will reopen for a half day at 1600GMT(1100ET) following the carnival holiday. BRL may see some pressure on the open following yesterday’s stronger-than-expected US CPI data. USDBRL attention is on key resistance at 5.0017, the Jan 23 high, which was recently pierced. A clear break of this hurdle would confirm a resumption of the bull cycle and open 5.0609. Initial key support to watch lies at 4.9025, the Jan 26 low.
  • There are no data releases scheduled for today, with the highlights over the rest of this week being tomorrow’s BCB weekly economist survey and FGV CPI on Friday.
  • Meanwhile, BCB workers are set to strike on Feb 20-21, after a majority rejected the recent wage counter-proposal presented by the government. They will stage a staggered strike, beginning with the 48-hour action next week.

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.