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May Trade Data Due Today

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EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • USDBRL bulls remain in the driver’s seat, amidst renewed signs of tensions between the government and lower house speaker Lira, with the pair briefly piecing and closing just below the 5.30 level yesterday. A clear break of key resistance at 5.2869, the Apr 16 high and bull trigger, would confirm a resumption of the uptrend and open 5.3330, 76.4% of the Nov 17 ‘22 - Jul 28 ‘23 bear cycle.
  • On the data front, trade figures for May will be released at 1900BST(1400ET), with consensus for the trade surplus to moderate to $8.5bn, from $9.04bn in April.
    • May Trade Balance Monthly, est. $8.5b, prior $9.04b
    • May Imports Total, est. $22.5b, prior $21.9b
    • May Exports Total, est. $31b, prior $30.9b
  • Meanwhile, President Lula is expected to travel to Rio Grande do Sul state today, where he will visit flood impacted cities. BCB President Campos Neto is scheduled to give a lecture at an event in Sao Paulo at 1300BST(0800ET).
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  • USDBRL bulls remain in the driver’s seat, amidst renewed signs of tensions between the government and lower house speaker Lira, with the pair briefly piecing and closing just below the 5.30 level yesterday. A clear break of key resistance at 5.2869, the Apr 16 high and bull trigger, would confirm a resumption of the uptrend and open 5.3330, 76.4% of the Nov 17 ‘22 - Jul 28 ‘23 bear cycle.
  • On the data front, trade figures for May will be released at 1900BST(1400ET), with consensus for the trade surplus to moderate to $8.5bn, from $9.04bn in April.
    • May Trade Balance Monthly, est. $8.5b, prior $9.04b
    • May Imports Total, est. $22.5b, prior $21.9b
    • May Exports Total, est. $31b, prior $30.9b
  • Meanwhile, President Lula is expected to travel to Rio Grande do Sul state today, where he will visit flood impacted cities. BCB President Campos Neto is scheduled to give a lecture at an event in Sao Paulo at 1300BST(0800ET).