MNI BRIEF: German Insolvency Rate Slows, 2025 Pickup Expected

MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: Brazil Annual Inflation Rises To 4.87% In November

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

US NFIB NOV SMALL BUSINESS INDEX 101.7

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

USDBRL Closes Just Above Initial Support

BRAZIL
  • Broad greenback weakness and equity strength in the aftermath of the US data on Tuesday prompted some outperformance for the Brazilian Real. USDBRL closed just above initial support at 4.8416, the Aug 10 low. As mentioned, a break below here would threaten the most recent bullish theme and expose key support at 4.6964, the Jul 28 low.
  • Iron ore is leading gains among main commodity futures, up 2% in Singapore, paving the way for benign sentiment in the local stock market.
  • On Tuesday, we also noted that FT reports stated that President Lula is close to sealing an unlikely alliance with two right-wing parties formerly allied to Bolsonaro, in a move aimed at strengthening the hand of his administration. The deal would cede cabinet posts and potentially other roles in return for support in Congress, where the coalition led by Lula’s Workers’ party does not command a majority.
  • Additionally, this morning a gauge of inflation also printed below expectations: Brazil’s August IGP-M Inflation Index -0.14% M/m; Est. 0.03% (BBG)
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.