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Global Macro
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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.
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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
Real Weakens With IGP-M Inflation Data Under Microscope
USD/BRL has ticked higher and last trades +120 pips at BRL4.9630 as the BRL underperforms the greenback alongside MXN and ARS even as the BBDXY index remains below neutral levels. Bulls look to force a break above the 50-EMA, which kicks in at BRL5.0805. Bears keep an eye on the 76.4% retracement of the May - Nov 2022 bull phase at BRL4.8889.
- Brazil's IGP-M inflation printed at -2.57% Y/Y in April versus -2.61% expected and -1.16% in March. Separately, Brazilian economists in the central bank's weekly survey cut their 2023 CPI inflation outlook to +6.02% Y/Y from +6.05%. The data came out amid the ongoing debate on whether the central bank could cut rates at its next monetary policy meetings on June 21. President Luiz Inacio Lula da Silva said over the weekend that "Brazilian retailers, businesspeople, workers no longer stand this interest rate" as he renewed his criticism of elevated borrowing costs.
To read the full story
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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.