
The G20 summit took place in Bali, Indonesia, on November 2022…
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USD/BRL jumped before the announcement of the Central Bank of Brazil. What was the reason?
On April 6 the rating agency Fitch decreased the Brazil’s credit rating to negative. The Central Bank of Brazil cut interest rates by 75 basis points, while economists anticipated only 50. Moreover, the Brazil’s monetary policy committee intends to repeat that cut in June. The Brazilian real slumped by 1.8%.
Brazil interest rate
Reasons of its poor performance are the political uncertainty, the global recession amid the coronavirus pandemic, risk aversion and, also, the strong US dollar. Brazil has been damaged by the coronavirus much more than other countries in Latin America. Brazil is headed towards unseen low rates. The economy has never been in such an environment before.
Let’s look at the USD/BRL chart. The main trend is upward. Now the price is near the recent intraday record high at the 5.75 mark. Let’s see if it breaks through it and moves up further or goes down to the support line on 5.33. The next support is on 5.00. However, with the firmer US dollar the prognosis for the Brazil real is disappointing.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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