A higher than expected figure should be seen as positive (bullish) for the BRL while a lower than expected figure should be seen as negative (bearish) for the BRL.
Source:
FGV - Fundacao Getulio Vargas
Category: 
IGP-M Inflation MoM
Units:
Percent
Latest Release
Previous:
-0.95%
Consensus:
-0.45%
Actual:
-1.84%
Next Release
Date:
Jun 23, 11:00
Time left:
15 days
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