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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 AccessUSDBRL Steady Ahead Of Monday’s Bimonthly Treasury Report
- Foreigners bought $1.1bn against BRL in the derivatives market on Thursday as the real at one point lost 1.9% against the dollar, according to Bloomberg, citing data from B3. USDBRL pared some of those gains late in yesterday’s session after finance minister Haddad announced a BRL 15bn spending freeze, and today the pair is trading close to unchanged, around 5.55, as the market awaits Monday’s bimonthly Treasury report.
- For USDBRL, a resumption of gains would signal scope for a climb towards 5.7134, the 1.382 projection of the Dec 27 ‘23 - Apr 16 - May 3 price swing. The 50-day EMA, the next support, lies at 5.3746 and a clear break of this average would be needed to highlight a potential reversal.
- Besides the bimonthly Treasury report, attention next week will also be on mid-month IPCA inflation data on Thursday, when the market expects the headline rate to rise further to 4.39% y/y.
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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.