• Brazilian markets will reopen Friday after the Corpus Christi holiday yesterday. Amidst the risk off move earlier this week, USDBRL pierced short-term resistance at 5.1969, the Apr 30 high. Clearance of this hurdle would be bullish and signal scope for a climb towards 5.2869, the Apr 16 high. On the downside, support is around the 50-day EMA, currently at 5.1046.
  • Data wise, the domestic calendar is empty today, with focus on the US PCE data at 1330BST(0830ET). Next week, Q1 GDP data are due on Tuesday, followed by April IP on Wednesday.
  • Meanwhile, Finance Minister Haddad has said in an interview with Valor that a change in the central bank’s CPI target was never considered. He said that his recent comments about the very demanding inflation target were made in the context of praising the joint work of the finance ministry with the BCB.

BRAZIL: Finance Minister Haddad Says Change In BCB Inflation Target Not Considered

Last updated at:May-31 11:05By: Keith Gyles
  • Brazilian markets will reopen Friday after the Corpus Christi holiday yesterday. Amidst the risk off move earlier this week, USDBRL pierced short-term resistance at 5.1969, the Apr 30 high. Clearance of this hurdle would be bullish and signal scope for a climb towards 5.2869, the Apr 16 high. On the downside, support is around the 50-day EMA, currently at 5.1046.
  • Data wise, the domestic calendar is empty today, with focus on the US PCE data at 1330BST(0830ET). Next week, Q1 GDP data are due on Tuesday, followed by April IP on Wednesday.
  • Meanwhile, Finance Minister Haddad has said in an interview with Valor that a change in the central bank’s CPI target was never considered. He said that his recent comments about the very demanding inflation target were made in the context of praising the joint work of the finance ministry with the BCB.

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