UK NOV FLASH MANUF PMI 48.6 (FCST: 50.0); OCT 49.9

EUROZONE NOV FLASH MANUF PMI 45.2 (FCST: 46.0); OCT 46.0

GERMANY NOV FLASH MANUF PMI 43.2 (FCST: 43.0); OCT 43.0

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

MNI China Daily Summary: Thursday, November 21

FRANCE NOV FLASH MANUF PMI 43.2 (FCST:44.5); OCT 44.5

MNI: GERMANY Q3 FINAL GDP 0.1% Q/Q (VS FCST 0.2%)

MNI: UK OCT RETAIL SALES -0.7% M/M, +2.4% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Stronger Than Expected Activity Data, BRL Little Changed At Open

BRAZIL
  • Economic activity rose 0.56% m/m (estimate +0.15%) in April versus revised -0.14% in March, according to the Brazil Central Bank. The stronger than expected readings have prompted little reaction in the currency at the open. Analysts are noting that the steady decline in the currency’s implied volatility may be signalling the growing confidence that BRL may be better positioned to absorb any bouts of significant pressure.
  • Overall, USDBRL maintains a softer tone following the reversal from 5.1277, the May 31 high. The pair has cleared 4.8859, the May 15 low and key support. The break confirms a resumption of the downtrend. The 4.8000 handle has been tested, a continuation lower would pave the way for a move towards 4.7490, Jun 6 2022 low and 4.6910, the May 30 2022 low.
  • Next week the focus will be on the June Copom meeting/decision where the statement may be used to signal the path toward monetary easing. Analyst have been bringing forward their forecasts for the first Selic rate cut, with the majority debating a move between August & September.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.