Free Trial
STIR

BLOCK, Short Jun SOFR Covered Put

STIR

Large May'23 SOFR Put Ratio Buy

CORN TECHS

(H3) Watching Resistance

EUROZONE ISSUANCE

EGB Supply - W/C January 30, 2023 (2/2)

OIL PRODUCTS

Diesel Cracks Ease Back but Gasoline Holding Steady

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Reports That Lula's Transition Team Mulling More Conservative Spending Plan

BRAZIL
  • LULA’S TEAM TO MULL MORE CONSERVATIVE SPENDING PLAN FOR BRAZIL (BBG)
  • Brazil President-elect Luiz Inacio Lula da Silva’s transition team will weigh a more conservative alternative to finance next year’s social outlays as investors eagerly await spending details, according to two people with knowledge of the matter. (Bloomberg)
  • USDBRL has been hit on the news from roughly 5.33 to a low of 5.2720.
  • While price trades below 5.4286, the outlook remains bearish for USDBRL and a resumption of weakness would open the 5.0205 low on Nov 4. A break of this support would strengthen bearish conditions.
93 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • LULA’S TEAM TO MULL MORE CONSERVATIVE SPENDING PLAN FOR BRAZIL (BBG)
  • Brazil President-elect Luiz Inacio Lula da Silva’s transition team will weigh a more conservative alternative to finance next year’s social outlays as investors eagerly await spending details, according to two people with knowledge of the matter. (Bloomberg)
  • USDBRL has been hit on the news from roughly 5.33 to a low of 5.2720.
  • While price trades below 5.4286, the outlook remains bearish for USDBRL and a resumption of weakness would open the 5.0205 low on Nov 4. A break of this support would strengthen bearish conditions.