This week, shorter due to the holiday on Monday (21), the agenda for Brazil will be taken by the expectation of IPCA-15, to be released next Friday, the 25th.
Bradesco projects high of 0.42%, slowing over the previous month (0.64%). “Gasoline and food should explain much of this slowdown. It will be important to observe the qualitative aspect of the number, specifically underlying services, which have been under pressure in the latest readings. We expect a gradual slowdown of the inflation nucleus throughout the year, but still between 5.5% and 6% in 2025,” the bank points out. For the IPCA like the whole, expects high of 5.6%.
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In addition, FGV discloses consumer polls (Thursday) and construction (Friday) of April. In the political front, Congress agendas will gain traction again and will focus on the coming weeks on topics such as the Annesty Agreement for events on January 8 and the official installation of the Income Tax Commission, says Itaú.
In the corporate radar, the first trimester balance season of 2025 (1T25) begins to gain traction with the results of Hypera (Hype3) on Wednesday, but Vale (Vale3), Usiminas (Usim5) and Gerdau (GGBR4) being the highlights on Thursday.
International scenario
On the international side, the developments related to commercial tariffs will continue to dictate the degree of risk aversion of markets, says Itaú.
In the agenda of economic disclosures, attention to monetary policy decision in China on Sunday night. In the eurozone, the PMI Industrial Survey index for April will be published on Wednesday. On the same day, the Beige Book (“Beige Book”) will be published by the Fed, containing economic information about the US conjuncture.
AGENDA OF THE WEEK:
Monday, 4/21
- – holiday in the Brazilian bag
Tuesday, 04/22
- – 08:25 – Brazil: BCB: Focus Report (weekly)
- – 3:00 pm – Brazil: Secex: Trade Balance (weekly)
- – 12:00 – EURO area: Consumer Confidence (Apr) – Preliminary
Wednesday, 04/23
- – 14:30 – Brazil: BCB: exchange flow (weekly)
- – 04:30 – Germany: S&P Global: Compound PMI Index (Apr) – Preliminary
- – 05:00 – EURO area: S&P Global: Compound PMI Index (Apr) – Preliminary
- – 09:00 – Mexico: Retail sales (Feb)
- – 10:45 – USA: S&P Global: Compound PMI Index (Apr) – Preliminary
- – 15:00 – USA: Fed: Book Beige
Thursday, 24/04
- – 08:00 – Brazil: FGV: consumer poll (ABR)
- -08:00-Brazil: FGV: IPC-S (weekly)
- – Brazil: BCB: National Monetary Council Meeting
- – 09:30 – USA: Fed: National Activity Index (CFNAI) (Sea)
- – 09:30 – USA: Requests for Unemployment Assistance (weekly)
Friday, April 25
- – 05:00 – Brazil: FIPE: IPC (weekly)
- -08:00-Brazil: FGV: INCC-M (Apr)
- – 08:00 – Brazil: FGV: Construction poll (Apr)
- -09:00-Brazil: IBGE: IPCA-15 (Apr)
- – Brazil: ANEEL: Definition of the electricity flag of electricity
