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USDBRL Remains Unchanged In Light Data Week, Pazuello Testifies

BRAZIL
  • Once again a near 1% daily range for USDBRL results in very limited movement overall, closing just above 5.26. A more notable move yesterday in DI swap rates moving higher between 4-12 basis points in a bear steepening move, reversing Mondays move lower. Local assets likely to be guided by shifts in global sentiment with a largely vacant data docket before mid-month inflation on 25th May.
  • Today, former Health Minister Eduardo Pazuello is expected to testify at Senate's committee looking into the government's actions to fight the Covid-19 pandemic.

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