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Returns From Carnival

BRAZIL

USDBRL will reopen at the top of the hour, which given the moves over the past 24 hours could see the Real under pressure. A few highs were made at 5.4550 but above this we have the important 5.50-52 resistance area. It is worth noting the Central Bank were active in the fx market last week when the Real was particularly weak which should be monitored.


*News - Brazil's Health Ministry signed a deal to purchase an additional 54 million doses of the Coronavac vaccine, according to a statement published Tuesday afternoon on the ministry's website. The deal was signed with Butantan in a partnership with Sinovac. 100 million shots are expected to be delivered to states through September.

*BM&FBOVESPA: Trading and registration will reopen at 1:00 p.m. local time, according to the B3 Exchange website. Of note, today will see expiration of Ibovespa options at B3.


*Data - Brazil's central bank releases Focus survey, with analysts' estimates for GDP, FX, inflation and Selic rate on its website at 12pm.

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