02 Jul, 2014

Economic Comments from Banks in Brasil

WooriBank 조회 수 29485 추천 수 0 목록

European stocks post small gains today (Stoxx Europe 600 index: +0.5%) led by the mining sector—the

basic resources subindex adds 1.8%—after the official Chinese PMI manufacturing for June rose to 51.0

from 50.8 in May. U.S. stock futures show a positive opening as well. As far as FX markets are concerned,

the pound soared to near six-year high against the dollar after U.K. PMI for June rose more than expected

to 57.5 from 57.0 in the previous month. Stronger economic data may eventually led the BoE to raise

interest rate later this year. On the other hand, the ruble weakens 0.8% to 34.25 against the dollar

amid renewal of hostilities in Ukraine as the country’s president declared the end to a cease-fire

in the east while Moscow wanted to extend the 10-day-old truce.

Yesterday, in a volatile session with low trading volume, the stock market in the U.S. and in Brazil closed

near the breakeven. The Ibovespa index closed at 53.2K points as investors erased earlier losses

looking at the semesters’ end. The lower than expected fiscal outcome for May triggered some

adjustment in the local yield curve, whose main vertices rose around 5bps, and that weighed on stocks

initially. The BRL jumped 0.9% and closed at 2.215 and the Central Bank didn’t accept bids in a U.S. dollar

loan auction. It seems markets slowed down as the week in shorter with a holiday in the U.S. on Friday,

with important events on Thursday (payroll and ECB meeting), and as the northern hemisphere

approaches the main vacations season.

In the U.S., June manufacturing ISM is due today (11:00 in Brasília). Judging from the behavior of

the regional indicators, this national index is estimated to have remained at a high level, on 55.8,

and very close to the previous month’s reading, which was 55.4. May construction spending is due

at the same hour. The forecast is a rise of 0.5% in the month, in line with the moderate growth displayed

by construction industry indicators. June motor vehicle sales are due late in the day.

Following the previous month’s jump to 16.7 million annualized, a post-crisis high, the forecast

for the June reading is 16.3 million, slightly down but still showing a strong performance by the segment.

In Brazil, the Ministry of Development, Industry & Trade (MDIC) announces the June merchandise

trade balance. Given the US$2.1 billion surplus reported for the first three weeks, we expect to see

the largest monthly surplus in the year to date. Our estimate is US$3.0 billion,

with exports of US$20.5 billion and imports of US$17.5 billion.

FGV reported the June IPC-S which rose 0.33%, more than what the daily monitor was signaling (0.24%),

but down compared with the previous week (0.34%). Food prices have turned slightly up (+0.08%)

compared with the previous week but accounting for a large proportion of the fall in the index.

In addition, Education and Personal Expenditures groups decelerated.

List of Articles
번호 제목 날짜 조회 수sort
39 한국어 브라질우리은행 명칭 도용업체 주의 부탁드립니다. 2014-12-05 84845
38 Portugues 연말 브라질 우리은행 영업 시간(12월 24일/31일) - HORARIO DE ATENDIMENTO FINAL DE ANO 2015-12-24 62714
37 한국어 (중요) 브라질 우리은행 명의도용 업체 주의 2015-02-20 31936
36 Portugues Relatório Gerenciamento de Riscos 2014 file 2015-04-24 31056
35 한국어 Daily Economic Comments 2014-06-12 30651
34 한국어 5월22일 주요뉴스 발췌 요약 2014-05-23 29698
» 한국어 Economic Comments from Banks in Brasil 2014-07-02 29485
32 Portugues ALERTA AO PÚBLICO ! 2015-02-20 28147
31 Portugues RELATÓRIO GESTÃO RISCOS - 1º SEM2017 file 2017-10-31 27745
30 한국어 경제뉴스- Investors avoid taking positions waiting for the minutes of the Fed 2014-05-21 26701
29 Portugues Relatório Gestão de Riscos e Capital- 2º Semestre2017 file 2018-06-14 26417
28 Portugues ALERTA AO PÚBLICO 2014-12-06 25742
27 Portugues Demonstrações Financeiras - 2016 file 2017-09-30 25562
26 Portugues RELATÓRIO GESTÃO RISCOS - 2º SEM16 file 2017-10-31 24792
25 한국어 LatAm Fixed Income & Economics Daily (5/20) 2014-05-21 24703
24 한국어 월드컵 개최일자 브라질우리은행 휴무일 통지 2014-06-12 24671
23 Portugues Sistema de Informações de Crédito 2015-04-14 24122
22 한국어 동결예금의 이자지급에 관한 법원결정 기사요약 2014-05-23 22935
21 한국어 2014년 브라질 월드컵 기간 중 브라질우리은행 근무시간 변경안내 file 2014-05-29 22856
20 한국어 Economy News and Outlook(20140701) 2014-07-02 22243