Brazil’s president faces impeachment — Here’s what’s happening in FX

Good morning!


There’s not too much noise in FX on Friday, April 15 as of 7:45 a.m. ET.

But, anyway, here’s the scoreboard:

    The Brazilian real is stronger by 0.1% at 3.4686 after President Dilma Rousseff failed to block an impeachment vote in the lower house of Congress. According to AP, Brazil’s Supreme Court voted 8-to-2 in favor of striking down a motion that attempted to block the vote, saying it wasn’t appropriate to get involved at this point. The impeachment vote will take place on Sunday.The Chinese yuan closed stronger by 0.1% at 6.4756 per dollar after the National Bureau of Statistics said China’s economy grew 6.7% year-over-year in the first quarter, in line with expectations. The latest reading was a hair lower than Q4’s 6.8% growth, and was the weakest since Q1 2009. The British pound is stronger by 0.3% at 1.4190. Notably, a recent survey by an auditor’s group suggests that most UK company boards aren’t preparing for a Brexit. Additionally, US President Obama is reportedly planning to back the anti-Brexit campaign during his visit to the UK next week, according to Bloomberg. Theeurois up 0.2% at 1.1284 after European auto sales jumped 8.2% YoY in the first quarter to 3.8 million. While purchases rose in every country, Italy saw an eye-popping 20.8% surge. Volkswagen sales slipped 0.5%, making it the only top 10 automaker to see a decline.The dollar index is slightly weaker by 0.2% at 94.75 ahead of a heavy day for US economic data. Empire Manufacturing is up first at 8:30 a.m. ET, and it will be followed by industrial production, capacity utilization, University of Michigan consumer sentiment, and the rig count. The Japanese yen is stronger by 0.5% at 108.86 per dollar after data showed industrial production fell by 5.2% in the last month, better than economists expectations of a 6.2% drop.The Australian dollar is up 0.3% at .7716. On Thursday, the Reserve Bank of Australia said lending risks are shifting to home-builders from home-buyers, according to Bloomberg.