Free Trial

USDBRL Gravitates Towards 5.01 Technical Level

  • Continued local optimism saw BRL firm around 1.3% against the greenback on Wednesday. The recent weakness for USDBRL continues to signal the potential for a move towards 5.0108, the Aug 29/30 low and a key support.
  • Today, Petrobras’s board holds meeting with the appointment of Jean Paul Prates as the new CEO as one of its items; Prates’s nomination was approved by company’s committee, according to local newspapers.
  • Data/supply due today:
    • 1230GMT/0730ET: Dec. Foreign Direct Investment, est. $5.55b, prior $8.34b
    • 1230GMT/0730ET: Dec. Current Account Balance, est. -$6.4b, prior -$60m
    • Treasury discloses public debt monthly report and annual financing plan for 2023 at 1730GMT/1230ET followed by a press conference 30 minutes later.
    • Treasury to auction fixed-rate LTN local notes due 2023, 2025 and 2026, and fixed-rate NTN-F local notes due 2029 and 2033.

To read the full story



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.