USDBRL and the benchmark Ibovespa equity index are teetering on the edge of major price levels. If breached with follow-through, a selloff or rally may ensue.
The Brazilian Real and Ibovespa will be on their toes as lawmakers in Brazil‘s legislature vote on the constitutional legality of Bolsonaro’s pension reforms.
The Brazilian Real suffered yesterday following the release of underperforming industrial production data. BRL traders are now focusing on upcoming local retail sales with an
USD/BRL traders will be closely watching Brazilian GDP and manufacturing PMI amid the ongoing pension negotiations along with the Fed Chairmans congressional testimony.