Free Trial

Second Tier CPI Index June Reading Surprises To Downside

BRAZIL
  • A second-tier CPI index confirmed a slightly more benign inflation outlook in the short-term, which may push swap rates down. Brazil's June IGP-M Inflation Index rose 0.60% M/m versus an estimate of 1%.
  • USDBRL has tested a couple of times back up to around 4.97 but the Real continues to be well supported on dips. The target of the move in USDBRL continues to be 4.8187, Jun 8 2020 low.
  • Treasury auctions inflation-linked NTN-B local notes due 2026, 2030 and 2055
  • Economy Ministry Tax Secretariat holds press conference on tax collection, 11:00 local.
  • Treasury releases central govt budget balance followed by Secretary Jeferson Bittencourt press conference, 1pm local.

To read the full story

Close

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.