Brazilian equity futures extended their recent recovery, with August-settling mini-index contracts (WINQ26) closing the previous session 1.07% higher at 173,490 points.
The rally marks a shift in sentiment after the benchmark Ibovespa index ended the prior week in negative territory, weighed down by global rate dynamics and domestic policy uncertainty.
The market’s upward momentum is being driven by anticipation of two key data releases scheduled for Tuesday.
Traders are closely monitoring the publication of the minutes from the latest meeting of Brazil’s Monetary Policy Committee (Copom), which recently cut the Selic benchmark rate by 25 basis points.
The minutes are expected to provide clarity on the central bank’s forward guidance and the trajectory of future monetary easing.
Simultaneously, the release of Purchasing Managers’ Index (PMI) data will offer a snapshot of economic activity in Brazil’s manufacturing and services sectors.