FXMarketAlerts Team
FXMarketAlerts
Published at 12:26 (GMT) 17 Oct
BRL is opening stronger on combination of better global backdrop with indications from ECB that will fast forward liquidity measures. Moreover the market mood is improving after yesterday SBT presidential election debate. BRL is gaining 0.71% to 2.4552 but has yet to test 2.45. BCB will auction the usual 4K in FX swaps and 8K to rollover the US$8.84bn 3rd November maturity which means it will be a 100% rollover. Stronger BRL and lower risk aversion are pushing DI rates down. Jan 17 is down 8bps to 12.04%. No data in the domestic market and in the US, at 12:30GMT we expect Sep housing starts and building permits to both come in at 1.04m, up 8.8% and 3.7% respectively. At 13:55GMT we expect the preliminary Oct Michigan CSI to slip to 83.5 from 84.6. Yellen and dovish non-voter Rosengren will speak at a Boston Fed conference on "Inequality of Economic Opportunity" at 12:30GMT.
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