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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.
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Free AccessMNI China Daily Summary: Tuesday, November 26
MNI BRiEF: Riksbank Puts Neutral Rate In 1.5 To 3.0% Range
USDBRL Hovers Above Support, Real Remains 2022 Best Performer
- USDBRL made a new marginal low on Friday below 5.1163, the Aug 31, 2021 low. A sustained breach of this technical point would place the short-term support at 504.16, the late July 2021 low. Any further pressure on risk sentiment, prompting a consolidation may target the 20-day EMA at 5.2792.
- BRL is still the world’s best performing major currency this year with USDBRL just under 8% lower in 2022.
- Domestically the clear data focus will be on mid-month IPCA-15 inflation due Wednesday to for further clues as to whether the BCB will extend their hiking cycle beyond the March meeting.
- Additionally, BCB President Roberto Campos Neto is scheduled to speak today at 1300 ET.
- Local media is focused on the political alliances talks ahead of the October election.
- A ticket formed by Lula and Sao Paulo’s former governor Geraldo Alckmin is considered almost certain and is one of the reasons behind bets Lula may seek a more centrist government if he is elected. (BBG)
To read the full story
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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.