Key Facts
Copom wager remains the anchor the Selic was cut to 14.00% on 5 August and B3 options had priced roughly 75.5% odds of a 0.25-point cut before that meeting, so today is about judging how much easing is already in the price
Today’s domestic catalyst is labour data the continuous PNAD unemployment rate lands at 9:00 am BRT, with the market expecting 5.3% against a prior 5.4%, a reading that will shape rate-cut expectations for the next Copom meeting
The real enters on guard USD/BRL closed at 5.1518, up 0.22% on the session, and traders will use the jobs and current-account numbers to test whether that level holds before the New York open
Corporate news flow is quiet but selective no verified earnings or ex-dividend events were captured in the calendar feed, so the open will lean on rate-sensitive names and any company-specific announcements that hit the wire
