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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.
BRAZIL
- Market uncertainty keeps pushing the US Dollar higher, with DXY index breaking above the psychological 104 level in today’s trading session.
- Pressure on EM FX has remained elevated as CNY depreciation / geopolitical tensions continue to weigh on EM assets.
- Bull retracement on USDBRL continues on Thursday, with USDBRL breaking above its 100DMA at 5.1660.
- BRL is one of the weakest EM FX performers in Q2, down nearly 9% against the greenback.
- Next resistance to watch on the topside stands at 5.2290, which corresponds to the 50% retracement of the 4.5840 – 5.8740 range.
Source: Bloomberg/MNI
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.
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