Free Trial

The USD/BRL rate finished higher.....>

BRAZILIAN REAL
BRAZILIAN REAL: The USD/BRL rate finished higher Friday, although well within
recent ranges, and faces an important few sessions this week. The pension reform
bill is set to be presented to the lower house tomorrow, with Rodrigo Maia, the
speaker of the lower house due to issue a judgement on the proposals. This may
prove to be a key indicator on how hostile or helpful the lower house could be
ahead of the vote due to take place on April 17th.
- Other headlines over the weekend include opinion polling showing President
Bolsonaro at record low levels of popularity. Bloomberg writes the government
was described as "bad or terrible by 30% of respondents", citing a Datafolha
poll.
-USD/BRL found some support at the 3.8428 200-dma Friday and that may remain the
case this week should BRL gain further. EMFX, however, trades slightly weaker
today, which would leave USD/BRL on course to test last week's highs at 3.8921.
-Brazilian datapoints are few and far between for the rest of the session, with
focus remaining on retail sales for February due tomorrow.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.