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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 Tilts Firmer on Weak Fiscal Data, Stronger USD
- A firmer greenback and the weaker-than-expected budget balance data is weighing on the Brazilian real at the open, with USDBRL climbing roughly a quarter of a percent to 5.1750. A solid improvement for April’s unemployment rate has been unable to offset the initial BRL weakness.
- We noted yesterday that the recent pull lower for USDBRL, since Apr 16, appears to have been a correction. The pair is once again trading above its 50-day EMA and price action sees a narrowing of the gap towards key short-term resistance, which has been defined at 5.1969, the Apr 30 high. Clearance of this hurdle would be a bullish technical development.
- Formal job creation and Federal debt total figures are scheduled for release later today and will be the final datapoints this week. Local markets will be closed on Thursday for Corpus Christi Day.
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.