Brazil’s Financial Morning Call for April 15, 2025
Brazilian markets face a critical day today, driven by key domestic and international economic releases. These reports will offer insights into inflationary pressures, labor market trends, and global manufacturing activity amid easing U.S. trade tensions.
At 07:00 AM (BRT), Brazil’s IGP-10 Inflation Index (MoM) for April (previous: 0.0%) will provide a broad measure of price changes across producer, consumer, and construction costs.
A higher-than-expected reading could signal rising inflationary pressures, potentially prompting tighter monetary policy from the Central Bank and impacting the Brazilian real, while stability might support economic confidence.
Globally, at 02:00 AM (EST) / 03:00 AM (BRT), the UK’s Average Earnings Index +Bonus for February (consensus: 5.7%, previous: 5.8%) will reflect wage growth trends in a key market.
A softer-than-expected figure could indicate easing inflationary pressures, potentially supporting demand for Brazilian exports like agricultural goods, while persistent wage growth might tighten monetary conditions, affecting trade.
At the same time, the UK’s Unemployment Rate for February (consensus: 4.4%, previous: 4.4%) will gauge labor market health.
A stable or lower rate could bolster consumer confidence and demand for Brazilian goods, whereas a rise might signal weakening economic activity, pressuring Brazil’s export outlook.
At 08:30 AM (EST) / 09:30 AM (BRT), the U.S. NY Empire State Manufacturing Index for April (consensus: -14.80, previous: -20.00) will provide an early look at U.S. industrial activity.
An improvement could signal stronger demand for Brazilian commodities, supporting asset prices, while a weaker reading might dampen global risk sentiment, weighing on Brazil’s markets.
Economic Agenda for April 15, 2025
Brazil
- 07:00 AM – IGP-10 Inflation Index (MoM) (Apr): Actual TBD, consensus TBD, previous 0.0%. Tracks broad inflationary trends, signaling cost pressures critical for monetary policy and economic stability.
United Kingdom
- 02:00 AM (EST) – Average Earnings Index +Bonus (Feb): Actual TBD, consensus 5.7%, previous 5.8%. Measures wage growth, influencing consumer spending and demand for Brazilian exports.
- 02:00 AM (EST) – Unemployment Rate (Feb): Actual TBD, consensus 4.4%, previous 4.4%. Tracks labor market health, impacting Brazil’s export outlook.
United States
- 08:30 AM (EST) – NY Empire State Manufacturing Index (Apr): Actual TBD, consensus -14.80, previous -20.00. Reflects U.S. manufacturing activity, influencing demand for Brazilian commodities and trade flows.
Brazil’s Markets Yesterday
The Brazilian stock market continued its upward trajectory on April 14, 2025, as reported by the B3 Brazilian Exchange. The Ibovespa index closed at 129,453.91 points, gaining 1.39% and adding 1,771.51 points to its value.
This marks the second consecutive day of gains, with the index accumulating a 2.45% increase over the past two trading sessions. The positive performance comes as global markets respond favorably to reduced trade tensions.
In particular, the U.S. temporary suspension of tariffs on electronic products boosted investor confidence. The Brazilian real strengthened slightly, with the USD/BRL exchange rate falling 0.33% to close at R$5.8512.
This resilience reflects technical support for the currency and renewed investor interest amid easing global trade anxieties. Trading volume on the B3 reached approximately R$14.5 billion, exceeding April’s daily average, signaling robust market activity.
U.S. Markets Yesterday
U.S. markets rallied on April 14, 2025, as President Donald Trump relaxed some tariffs and bond market stress eased. The S&P 500 rose 42.61 points, or 0.8%, to 5,405.97.
The Dow Jones Industrial Average gained 312.08 points, or 0.8%, to 40,524.79, and the Nasdaq composite climbed 107.03 points, or 0.6%, to 16,831.48.
The Russell 2000 index of smaller companies added 20.67 points, or 1.1%, to 1,880.88. Technology stocks, including Apple, led gains after tariff exemptions for electronics, while automakers like Ford and GM rallied on potential auto tariff pauses.
Commodities
Oil Prices
Oil markets showed signs of stabilization on April 14, 2025, after a dramatic collapse earlier in April. Brent crude prices edged up slightly, supported by supply concerns, though global demand uncertainties linger.
This stabilization offers cautious support for Petrobras and Brazil’s oil export revenues, with today’s U.S. manufacturing data critical for demand signals.
Gold Prices
Gold traded near $3,232 per ounce on April 14, 2025, consolidating after a recent rally driven by safe-haven demand. This stability supports Brazil’s mining sector, providing export resilience amid global economic shifts.
Silver Prices
Silver rebounded to $32.29 per ounce on April 14, 2025, following an early April plunge. This recovery bolsters Brazil’s mining exports, though gains are tempered by industrial demand concerns tied to global manufacturing trends.
Copper Prices
Copper prices continued their recovery path on April 14, 2025, after a steep early April decline, supported by supply constraints. Brazil’s commodity export outlook, tied to Vale’s resilience, remains cautiously optimistic, with today’s U.S. manufacturing data pivotal for demand forecasts.
Cryptocurrencies
Bitcoin approached a critical $88,500 resistance level on April 14, 2025, forming a technical crossroads as markets assessed global risk sentiment. This volatility influences Brazil’s fintech sentiment, reflecting cautious optimism amid economic uncertainties.
Companies and Market
Airline Sector
Azul Airlines led market gains on April 14, 2025, with an 8.7% stock increase after announcing international route expansions and benefiting from a weaker dollar. The company also launched a $700 million share offering to restructure debt, signaling financial recovery efforts.
GOL Airlines
GOL Airlines faced steep losses in Q1 2025, as reported on April 14, 2025, amid ongoing Chapter 11 restructuring. Despite challenges, the airline’s efforts to navigate debt pressures highlight resilience in Brazil’s aviation sector.
Brazil’s Trade Outlook
Brazil-U.S. commerce soared to a historic $20 billion in Q1 2025, despite earlier trade anxieties. The easing of U.S. tariffs on electronics supports Brazil’s export outlook, with today’s UK and U.S. data critical for sustaining this momentum.
Additional Companies
Trisul: Reported mixed Q1 2025 results on April 14, 2025, with strong project launches but a sales slowdown, reflecting challenges in Brazil’s real estate sector amid economic shifts.
Eztec: Posted strong Q1 2025 performance with 35% growth in launches, signaling resilience in Brazil’s real estate market despite broader uncertainties.
Brazil’s Investment Ranking: Brazil claimed the fourth spot in emerging markets investment rankings, as reported on April 14, 2025, bolstered by renewed investor confidence amid easing global trade tensions.
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Brazil Morning Call — Live Board
-1.52%
174,041.95
-1.52%
66,383.68
+0.21%
10,950.74
+0.31%
3,283,854
-1.07%
2,274.53
-0.38%
58,287.01
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 174,041.95 | -1.52% | +30.07% | 176,723.62 | 176,720 | 174,042 | — |
| USD/BRL | 5.08 | -0.24% | -8.00% | 5.09 | 5.08 | 5.08 | — |
| EUR/BRL | 5.78 | +0.08% | -10.91% | 5.78 | 5.80 | 5.75 | — |
| SELIC | 14.25% | — | — | — | — | — | |
| BRENT | 96.78 | -3.88% | +41.41% | 100.69 | 101.16 | 95.14 | 29,916 |
| WTI | 89.31 | -3.12% | +37.06% | 92.19 | 92.83 | 87.68 | 336,373 |
| IRON ORE | 161.91 | — | +64.29% | 161.91 | 161.91 | 1 | |
| GOLD | 4,071 | +0.60% | +22.10% | 4,047 | 4,085 | 4,024 | 112,402 |
| SILVER | 58.91 | +1.92% | +54.34% | 57.80 | 59.29 | 57.36 | 26,053 |
| LITHIUM | 67.81 | -1.75% | +51.94% | 69.02 | 68.69 | 67.73 | 177,410 |
| SOY | 1,254 | +1.29% | +25.51% | 1,238 | 1,257 | 1,238 | 166,916 |
| CORN | 487.25 | +5.01% | +21.96% | 464.00 | 492.00 | 479.25 | 257,469 |
| WHEAT | 678.00 | -2.62% | +25.96% | 696.25 | 711.25 | 659.50 | 117,726 |
| COFFEE | 298.25 | -3.60% | +0.24% | 309.40 | 318.55 | 306.40 | 14,168 |
| SUGAR | 14.76 | +0.48% | -9.39% | 14.69 | 14.79 | 14.54 | 45,966 |
| ORANGE JUICE | 142.65 | -2.83% | -55.75% | 146.80 | 146.15 | 141.50 | 345 |
| COTTON | 79.89 | +0.06% | +19.22% | 79.84 | 80.76 | 78.28 | 9,674 |
| BEEF | 222.50 | -1.29% | -1.76% | 225.40 | 224.13 | 220.78 | 19,283 |
| CATTLE | 341.45 | -0.68% | +3.04% | 343.77 | 345.48 | 337.25 | 9,940 |
| COCOA | 5,467 | +3.13% | -34.36% | 5,301 | 5,438 | 5,227 | 17,604 |
| PETR4 | 42.21 | -1.72% | +32.15% | 42.95 | 42.91 | 42.15 | 29,108,700 |
| VALE3 | 75.24 | -0.58% | +33.10% | 75.68 | 75.53 | 74.84 | 8,619,900 |
| SUZB3 | 41.84 | -1.39% | -18.76% | 42.43 | 42.25 | 41.63 | 3,639,400 |
| KLABIN | 17.52 | -0.79% | -5.27% | 17.66 | 17.59 | 17.32 | 3,680,600 |
| SLCE3 | 13.64 | -0.94% | -14.51% | 13.77 | 13.80 | 13.63 | 1,432,500 |
| ABEV3 | 15.64 | -1.76% | +15.85% | 15.92 | 15.90 | 15.61 | 15,223,800 |
| ITUB4 | 42.10 | -1.08% | +23.68% | 42.56 | 42.45 | 42.04 | 10,431,800 |
| BBDC4 | 18.48 | -1.28% | +17.86% | 18.72 | 18.64 | 18.42 | 13,961,200 |
| BBAS3 | 20.35 | -2.77% | +1.40% | 20.93 | 20.82 | 20.35 | 14,376,600 |
| B3SA3 | 15.44 | -1.34% | +17.68% | 15.65 | 15.67 | 15.43 | 35,146,900 |
| WEGE3 | 45.99 | +0.70% | +26.94% | 45.67 | 46.19 | 44.94 | 7,718,600 |
| PRIO3 | 58.82 | -2.84% | +39.05% | 60.54 | 60.27 | 58.46 | 5,375,200 |
| RENT3 | 36.89 | -0.67% | +2.56% | 37.14 | 37.38 | 36.59 | 4,733,700 |
| AZZA3 | 16.65 | -2.35% | -54.40% | 17.05 | 17.17 | 16.65 | 1,511,900 |
| CSNA3 | 5.36 | +1.13% | -37.31% | 5.30 | 5.45 | 5.24 | 8,140,000 |
| GGBR4 | 24.26 | +0.83% | +40.39% | 24.06 | 24.45 | 23.82 | 5,543,500 |
| ENEV3 | 24.90 | -3.11% | +79.65% | 25.70 | 25.58 | 24.87 | 4,494,900 |
| LREN3 | 13.27 | -0.75% | -22.31% | 13.37 | 13.49 | 13.18 | 7,803,700 |
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