The US future is flatter than inflation; Oil is rising in China and OPEC and today with more hotspots

On Tuesday morning (12) US futures indices are operating near stability, while European stocks are retreating sharply, while investors are preparing for a significant inflation report, the CPI, in the US (9:30 am), maintaining very aggressive bets. Curiosity.

Asian markets closed mixed, with investors watching developments around the Kovit situation in China and the Japanese yen move amid currency devaluation.

Shares of China recovered somewhat from major losses on Monday, hovering between positive and negative regions in active trading before reaching a high on Tuesday.

US inflation data are expected to show an annual rise of 8.4% – the highest level since December 1981 – according to economists, the Dow Jones vote, which is expected to contribute significantly to rising food costs, rents and energy prices.

With the March CBI, investors are looking forward to the start of the earnings season starting on Wednesday with JPMorgan and Delta Airlines and several major banks on Thursday.

OPEC has warned that rising oil prices offset some of the losses from the previous session and may not increase production soon after Shanghai eased some COVID-19-related restrictions as fears over a recession in China eased. For the loss of Russian supply.

Here, the numbers for services (9h) emerge, with a Refinitiv consensus monthly high of 0.7% and an annual high of 8.8%. Ambew holds Investor Day (1pm) and talks about the company’s business strategy going forward.

More Highlights:

1. Global Scholarship

To us

U.S. stock futures trading is close to early morning stability as investors wait for the release of the highly anticipated March consumer price index. This indicator is expected to show an annual increase of 8.4%, which is expected to be a major contributor to rising food costs, rent and energy prices.

See the performance of futures markets:

• Dow Jones Future (USA), -0.04%
• S&P 500 Futures (US), -0.02%
• Nasdaq Future (US), + 0.12%

Asia

Asian markets ended without a clear trend as Chinese stocks recovered somewhat from heavy losses on Monday.

Asian stock markets reflected the coveted position on China’s mainland and the Japanese yen’s move with the devaluation of the Japanese currency.

“Japanese officials will at least try to intervene verbally in the markets and try to keep calm and the pace of depreciation completely out of control,” Chang Wei Liang, DBS Bank’s foreign exchange and credit strategist, told CNBC.

At the beginning of March, the yen traded below 115 against the dollar, weakening sharply from these levels. According to National Bank of Australia’s Tabas Strickland, the Japanese currency has been hovering close to 125 yen against the dollar for two decades.

• Shanghai SE (China), + 1.46%
• Nikkei (Japan), -1.81%
• Hong Cheng Index (Hong Kong), + 0.52%
• Cosby (South Korea), -0.98%

Europe

European markets are reeling as investors watch strong sales in the banking sector and wait for key central bank meetings and US inflation data.

• FTSE 100 (UK), -0.40%
• DAX (Germany), -0.99%
• CAC 40 (France), -0.85%
• FTSE MIB (Italy), -0.53%

Ingredients

OPEC warned that crude oil prices rose in today’s session as fears over a recession in China eased after Shanghai eased some COVID-19-related restrictions, and that it was unlikely to raise enough production to make up the shortfall. Loss of Russian supply.

• WTI oil, + 3.01%, $ 97.30 a barrel
• Brent oil rose 3.16% to $ 101.59 a barrel
• Iron ore traded up 4.40% at 925 yuan, equivalent to US $ 145.22.

Bitcoin

• Bitcoin, -4.67% $ 40,257.39 (up from 24 hours ago)

2. Table

In the US, with the change in API oil reserves (5:30 pm), focus on March inflation (9:30 am) and the federal budget reserve (3:00 pm). In the afternoon, OPEC + releases the monthly production report (4:30 pm). In Brazil (9:00 am), service sector data for the month of February were released.

Brazil

9:00 am: Service sector data, Refinitiv consensus 0.7% per month and 8.8% per annum

United States

9:30 am: March Consumer Price Index, Refinitiv Consensus 1.2% Monthly Rise and + 8.4% Year-on-Year

1:10 pm: Speech by Lale Brainard, Director, Central Bank

15:00: Monthly federal budget balance, consensus points to the $ 191 billion deficit

17:30: Change in oil reserves

6:30 pm: Speech by Central Bank Director Thomas Park

3. Any new government will have the same plan, but deeper, Guedes says

This Monday (11) Economy Minister Paulo Guedes said that any re-election of President Jair Bolsanaro would be with the same plan of the current government and that it would be deepened, citing measures that were blocked or overthrown during the current administration. .

At an event promoted by Maringa’s Chamber of Commerce and Industry, Guedes cited the fact that the current government has not put forward the idea of ​​creating a tax to reduce these costs while protecting labor wage cuts. He did not specify what that tax would be, but predicted that the Economic Commission’s plan would create a tax on payments in the way of the defunct CPMF, which was vehemently rejected inside and outside the government.

Another measure mentioned by the Minister is called green and yellow card. The move to encourage hiring by reducing labor fees was put forward by the current administration, but was thwarted by Congress.

First, Guedes is finally in second place, says Bolzano

In an interview Monday (11) with President Jair Bolsanaro, Economic Affairs Minister Paulo Goodes said he would eventually continue in portfolio for a second term.

The Chamber has approved the PEC, which will make education spending more flexible by 2020 and 2021

The House of Representatives yesterday (11) approved the proposed amendment to the Constitution (PEC) 13/2021. The plan seeks to punish municipal managers who do not use the minimum percentage of education spending in 2020 and 2021 due to the Govt-19 epidemic. The proposal has already been passed in the Senate and is now on its way to declaration.

The justification for recognizing the PEC was that the epidemic forced the suspension of classes and, at the same time, diverted funds to the health sector, preventing mayors from investing the minimum percentage provided by law in education.

AGU calls for removal of action against the leader in the TSE

Last week, the Attorney General’s Office (AGU) asked the Supreme Court to dismiss the Judicial Electoral Inquiry (AIJE) case filed by PT against President Jair Bolzano and former Education Minister Milton Ribeiro.

Following the publication of the Folha de S.Paulo newspaper report, the case came to court in March, in which Milton Ribeiro released an audio claiming to be in favor of the municipal halls of the municipalities associated with the two pastors.

According to the agency, there was an “unnecessary reference” to Bolzano’s name and it was said to be favorable by a third party.

4. Govt

Last Monday (11), 80 deaths and 10,526 Covit-19 cases were reported in Brazil in 24 hours, according to the Federation of Press Vehicles at 8pm.

In Brazil, the moving average of coveted deaths in 7 days was 144, a 34% decrease compared to the previous level of 14 days.

The moving average of new cases in seven days was 22,337, down 21% from 14 days ago.

In Brazil, 162,126,555 people are fully immunized against goiter, which equates to 75.47% of the population.

The number of people who received the minimum first dose of the vaccine reached 176,274,196, which is 82.05% of the population.

The booster dose was given to 81,822,036 people or 38.09% of the population.

5. Corporate Radar

Target (GOLL4)

Target (GOLL4) Project Earnings per share (EPS) Approximately R $ 1,981 in the first quarter of 2022.

Passenger unit revenue (PRASK) expected in the first quarter is approximately 45% higher compared to the same period last year.

Bango Inter (BIDI11)

Inter (BIDI11) was announced on Monday (11) Your activity data, At the end of the first quarter of 2022 it reached 18.6 million customers, an increase of 82% compared to the same period of 2021.

The company also entered into an operational agreement with Do Brazil in Banco Mercantile for the purpose of exploring the complementarities of the companies and jointly undertaking loan allocation activities.

Direction (DIRR3)

Direction (DIRR3) Net contract sales R $ 622 million In the first quarter of 2022 (1Q22), it was 21% higher than 1Q21 and 7% lower than 4Q21.

The company introduced 9 new plans / levels in 1Q22, which represents a R $ 599 million public sales value (PSV), which is 4% higher than what was recorded in 1Q21 and 14% lower than 4Q21.

Mitter (MTRE3)

Miter (MTRE3) BRL recorded 153.5 million net sales in the first quarter of 2022, 85.3% higher than the same period in 2021.

Ara Minerals (AURA33)

Ara Minerals (AURA33) has released a preview of results for the first quarter (1Q22).

The Aura 1Q22 reached a combined quarterly production of 61,041 ounces of gold equivalent (GEO). Production results were in line with the company’s expectations, with another strong quarter in Aranzasu.

(With Estado, Bloomberg and Agensia Brazil)

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