MNI BRIEF: China Steel Market To Remain Subdued In August

MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: CNB Cuts 2W Repo Rate By 25Bps To 4.5%

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

US EIA:NAT GAS STORAGE +18 BCF TO 3,249 BCF JUL 26 WK

MNI: US JUN CONSTRUCT SPENDING -0.3%

MNI: US ISM JUL MANUF PURCHASING MANAGERS INDEX 46.8

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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USDBRL Opens Lower Following Hawkish Copom, 5.00 Mark Holds

BRAZIL
  • The weaker greenback and more hawkish central bank statement have underpinned BRL strength at the open, however, USDBRL has been supported so far at the psychological 5.00 mark.
  • Brazilian senators re-elected an ally of President Luiz Inacio Lula da Silva as head of the upper house of Congress, one of country’s most powerful political positions, in a defeat to former President Jair Bolsonaro who was backing another candidate.
    • A defeat here would have been seen as a blow for Lula’s legislative agenda which includes broad reform to the tax system and a new fiscal anchor.
    • In a much more one-sided affair, Lawmaker Arthur Lira was reelected Lower House Speaker in a vote this Wednesday.
  • Petrobras Plans to Appeal BRL5.7b Tax Debt Upheld by Court
    • The company said it will seek appropriate legal measures to appeal the charge, as well as guarantee the debt.
  • Treasury auctions fixed-rate LTN local notes due 2024, 2025 and 2026; fixed-rate NTN-F local notes due 2029 and 2033.
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