The Brazilian inflation figures for the first fortnight of March has printed at 0.43%, where food and administered prices have continued to lose steam taking the IPCA-15 down in the first half of March.

Consumer prices in Brazil increased by 10.36% year-on-year in February of 2016 slowing from a 12-year high growth of 10.71% in January, while staying below market consensus. 

On a monthly basis, consumer prices rose 0.90% easing from 1.27% growth in the previous month.

Also, the Brazil's non-seasonally adjusted unemployment rate rose to 8.2% in February of 2016 from 7.6 % in the previous month and above market forecast of 8.1%. It was the highest figure since May of 2009, as the number of unemployed increased sharply while employment fell.

Consumer prices in Brazil increased by 10.36% YoY in February of 2016 slowing from a 12-year high growth of 10.71% in January, while staying below market consensus.

It was the lowest reading since October 2015, as cost of housing and transportation rose at a slower pace. On a monthly basis, consumer prices rose 0.90% easing from 1.27% growth in the previous month.

USDBRL forms shooting star with RSI downward convergence above overbought territory, as a result one can short in near month futures for hedging downside risks as the dips are expected to drag further but not a drastic slumps, or go long in USD/BRL 1Y ATM vs sell 18M 25D strangle, 1:2 vega.