The last week of April is upon us and, after two holiday-shortened weeks, there is a full agenda of releases. The highlights at the start of the week are tax collection and external data. Mid-week there will be loan data and after the IGP-M inflation print. The week closes with the unemployment rate. Below is the full schedule of releases in Brazil from Monday, April 24 to Friday, April 28 (all times are local).
The last week of April kicks off with FGV weekly inflation data in addition to consumer confidence data. After will be the Central Bank’s Focus Survey and then federal tax and debt data. On the day, the CNI will also release industrial confidence data. Tuesday, we will have the current account balance and foreign direct investment. The middle of the week starts with FGV consumer confidence and construction cost gauges, loan data and payrolls. Thursday will start with the FIPE-IPC inflation gauge for Sao Paulo to be followed up by the IGP-M inflation print and PPI manufacturing. The last day of the week brings unemployment data and the nominal budget balance.
★★★ Market Mover
Monday, April 24
The week starts with consumer inflation data (IPC-S), published by the FGV, which advanced 0.44% in the last reading, at the same time there will be the release of the FGVs business confidence preview index. Twenty-five minutes later, the Central Bank’s Focus Survey will be disclosed. Monday morning also brings the federal debt total and during lunch will be federal tax revenues. There will also be the disclosure of the CNI industrial confidence index.
08:00 am | FGV CPI IPC-S | ★★
08:00 am | FGV Business Confidence (Preview)| ★★
08:25 am | Central Bank Weekly Economist Survey | ★★
10:05 am | Federal Debt Total | ★
13:00 pm | Federal Tax Revenues| ★★
On the day | CNI Industrial Confidence index| ★
Tuesday, April 25
Tuesday morning will bring the current account balance (previous $-0.9 billion) and foreign direct investment (which was $5.3 billion in the last reading).
10:30 am | Current Account Balance | ★★
10:30 am | Foreign Direct Investment | ★★
Wednesday, April 26
Midweek, the FGV will release consumer confidence data and construction costs before the market opens, after there will bank lending and currency flows.
08:00 am | FGV Consumer Confidence | ★★
08:00 am | FGV Construction Costs | ★
10:30 am | Outstanding Loans (Monthly) | ★★
10:30 am | Total Outstanding Loans | ★★★
10:30 am | Currency Flows| ★
Thursday, April 27
Thursday kicks off early with Sao Paulo inflation data, then there will be the release of the IGP-M inflation index and finally the PPI Manufacturing index.
05:00 am | FIPE CPI (Weekly Measures) | ★
08:00 am | FGV Inflation IGP-M (Weekly and Monthly) | ★★★
09:00 am | PPI Manufacturing (Monthly and Yearly) | ★
Friday, April 28
The end of the week will bring the unemployment rate (which is forecast to increase to 13.4% from 13.2% in the previous reading), and an hour later the nominal budget balance.
09:00 am | Unemployment Rate | ★★★
10:30 am | Nominal Budget Balance | ★★★
The last week of April will give more clues to the direction of the Brazilian economy. Stable or lower inflation data will give more strength to the argument that the Central Bank will increase the pace of rates cuts. Confidence data will show the how the market views the economy. Finally, closely watched employment data should increase again this month, with no ease up in the rate until at least the end of the year.
Have a productive week!