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- Focus Survey Sees Growth and Inflation Forecasts Revised Higher:
- Brazil economists forecast 5.44% 2021 inflation; prior 5.31%
- Brazil economists forecast 3.70% 2022 inflation; prior 3.68%
- Brazil economists forecast 4.36% 2021 GDP; prior 3.96%
- Brazil economists forecast 2.31% 2022 GDP; prior 2.25%
- USDBRL opening in line with Friday's close around 5.05 as the Real consolidates on most recent upward trajectory. China's import data appears to be stalling the commodities rally on Monday, which may leave USDBRL struggling to pierce through the next notable support.
- However, the December 2020 lows at 5.01 are undoubtedly within touching distance now, also providing an important pivot point in Q1 2020.