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BRAZIL: Mid-December IPCA Inflation, Nov Outstanding Loans & Jobs Data Due

BRAZIL
BulletEM BulletEmerging Market News
  • Consumer prices measured by the IPCA-15 index are expected to increase by 0.46% in December on a monthly basis. Annually, the index is expected to rise to 4.83%, after increasing 4.77% in prior reading. Earlier in the week, the latest Focus survey of economists raised the forecast for year-end inflation to 4.91% Y/y.
  • Efforts to thwart the rapid depreciation of the Brazilian real have continued, with the central bank auctioning a further $3billion in the spot market yesterday. Despite this action and the hawkish rhetoric from the Copom in recent weeks, USDBRL closed the session at 6.18, up an impressive 27% on the year as heightened fiscal concerns persist, further eroding investor sentiment.
  • Elsewhere on the economic calendar on Friday, total outstanding loans data and the November unemployment rate are also due, prior to the release of formal job creation figures.
    • 1130GMT/0630ET: Nov. Personal Loan Default Rate, prior 5.5%
    • 1130GMT/0630ET: Nov. Total Outstanding Loans, prior 6.26t
    • 1130GMT/0630ET: Nov. Outstanding Loans MoM, prior 0.7%
    • 1200GMT/0700ET: Nov. National Unemployment Rate, est. 6.1%, prior 6.2%
    • 1200GMT/0700ET: Inflation IPCA-15 YoY, est. 4.83%, prior 4.77%
    • 1200GMT/0700ET: Inflation IPCA-15 MoM, est. 0.46%, prior 0.62%
    • 1300GMT/0800ET: Nov. Formal Job Creation Total, est. 125,000, prior 132,714
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  • Consumer prices measured by the IPCA-15 index are expected to increase by 0.46% in December on a monthly basis. Annually, the index is expected to rise to 4.83%, after increasing 4.77% in prior reading. Earlier in the week, the latest Focus survey of economists raised the forecast for year-end inflation to 4.91% Y/y.
  • Efforts to thwart the rapid depreciation of the Brazilian real have continued, with the central bank auctioning a further $3billion in the spot market yesterday. Despite this action and the hawkish rhetoric from the Copom in recent weeks, USDBRL closed the session at 6.18, up an impressive 27% on the year as heightened fiscal concerns persist, further eroding investor sentiment.
  • Elsewhere on the economic calendar on Friday, total outstanding loans data and the November unemployment rate are also due, prior to the release of formal job creation figures.
    • 1130GMT/0630ET: Nov. Personal Loan Default Rate, prior 5.5%
    • 1130GMT/0630ET: Nov. Total Outstanding Loans, prior 6.26t
    • 1130GMT/0630ET: Nov. Outstanding Loans MoM, prior 0.7%
    • 1200GMT/0700ET: Nov. National Unemployment Rate, est. 6.1%, prior 6.2%
    • 1200GMT/0700ET: Inflation IPCA-15 YoY, est. 4.83%, prior 4.77%
    • 1200GMT/0700ET: Inflation IPCA-15 MoM, est. 0.46%, prior 0.62%
    • 1300GMT/0800ET: Nov. Formal Job Creation Total, est. 125,000, prior 132,714