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Market News Topics
May 31, 2023 11:27 GMT
Primary Budget Balance, April Jobs Creation Data Scheduled
BRAZIL
- The Brazilian real could come under further pressure on Wednesday amid negative sentiment across global markets following the weaker-than-expected China activity data overnight. Recent USDBRL gains have resulted in a break of both the 20- and 50-day EMAs. For now, the move higher appears to be a correction, however, a clear break of the 50-day EMA would signal scope for a stronger recovery and expose resistance at 5.0891, the Apr 19 high.
- Brazil’s primary budget balance likely to show a surplus of 16.6b reais in April, according to the median estimate in a Bloomberg survey, after a deficit of 14.2b reais in prior reading. Central bank is expected to release numbers at 1230BST/0730ET:
- April Nominal Budget Balance, est. -34.7b, prior -79.5b
- April Public Borr. Primary DE Monthy, est. 16.6b, prior -14.2b
- April Brazil Public Net Debt %GDP, est. 57.4%, prior 57.2%
- Employment figures are also expected on Wednesday:
- 1300BST/0800ET: April National Unemployment Rate, est. 8.8%, prior 8.8%
- 1900BST/1400ET: April Formal Job Creation Total, est. 189,550, prior 195,171
- Separately, the heads of state in Brasilia this Tuesday discussed whether their respective countries intend to negotiate with the rest of the world as a bloc or alone, said the Brazilian president Luiz Inacio Lula da Silva in a statement after a summit with South American presidents.
To read the full story
Close
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.
Sign up now for free trial access to this content.
Please enter your details below.
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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