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USDBRL Breaks 100 and 200-day Moving Averages, Down 1.05%

BRAZIL
  • Following the strong job numbers that had been hinted at yesterday, Finance Minister Guedes has been making further comments:
    • *Brazil created jobs in all sectors, regions in March
    • *Brazil services sector was highlight in March job report
    • *Brazil renewed employment program before losing jobs
    • *Brazil recurring expenses remain under spending cap
    • *Brazil soon to have social program for informal workers (all bbg)
  • The Real is seen 1.05% firmer against the dollar, breaking through both the 100 and 200 day moving averages at 5.4350 and 5.43. Fresh dollar weakness aiding the move that now targets 5.3406, 61.8% retracement of the Dec - Mar rally.

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