DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDBRL Briefly Breaches Noted Support At 5.5050, Unemployment Data Due

BRAZIL
  • USDBRL breached the Mid-July lows as the Real extends on a particularly strong week. A sustained break below 5.0550 would be bearish and expose 5.00 plus the Jun 25 low of 4.8934. The latter is a key support. BRL gains relieved pressure in the Di Curve where swap rates fell between 5-8 bps between the front and belly of the curve on Thursday.
  • Local currency strength comes ahead of the August Copom meeting next Wednesday, where the BCB are widely expected to raise rates by 100bps to 5.25%. The most recent inflation data has triggered multiple sell-side institutions to revise their rate trajectory projections.
    • Our full preview with analyst views will be published early next week.
  • Today, Brazil's primary budget balance likely to show a deficit of 64.0b Reais in June, according to the median estimate in a Bloomberg survey, after a deficit of 15.5b Reais in prior reading.
    • Additionally: 1300BST/0800ET - May National Unemployment Rate, Est. 14.5%, Prior 14.7%.
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.