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Financial News: BRAZIL: DI Rates Trade Slightly Higher Tracking USD

BRAZIL: DI Rates Trade Slightly Higher Tracking USD Amid Lower Liquidity

07/30/2018 - 16:18:00 (RTTNews)

(RTTNews) - The one-day interbank deposit futures rates (DI rates) in Brazil are trading slightly higher tracking the locally traded U.S. dollar amid thin trading volume.

Investors take a more defensive stance waiting for events such as the monetary policy decisions of the Federal Reserve and the Brazilian Central Bank's Monetary Policy Committee this week.

For Leme Investimentos' partner and fixed-income manager, Paulo Petrassi, the DI rates only track the slight rise in the greenback as the agenda of the day brings no reason to increase further.

In addition, he pointed out that inflation has remained the same, which indicates that the Copom may also not bring surprises this week.

"The announcement must come in very smoothly," said Petrassi. "Everything is coming as expected and inflation is now slowing down with the effects of the truckers' strike."

However, he warns that the external scenario and the domestic electoral environment still show a lot of uncertainty.

Near the end of the session, the January 2019 DI contract rate was stable at 6.62%, from 6.615% in the previous settlement, while the January 2020 DI rate was at 7.90%, from 7.89%. The January 2021 DI contract rate was at 8.90, from 8.88%.

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