We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
Oil - US Crude
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The inside bar pattern occurs regularly within the financial markets. Incorporating the inside bar strategy within a trading system can enhance a trader’s market analysis technique. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/ZCT4pwc6nv
  • Greed has proven to be a hindrance more than assistance for traders. How does greed impact your trading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/C4vrTm69sE
  • Central bank independence has several advantages and disadvantages. Find out what they are in-depth with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/WkwZK6wtzy
  • The $GBPUSD may be carving out a 4-year bearish candlestick pattern as the $EURGBP downtrend prolongs. GBP/JPY may rise but be wary of #Brexit risks clouding technical analysis. Get your GBP market update from @ddubrovskyFX here: https://t.co/wzV4fygKWe https://t.co/hpDmrh0LLo
  • Get your technical setups for the British Pound ahead of the key #Brexit vote in Parliament this weekend here $GBPUSD $EURGBP $GBPJPY - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/10/19/GBPUSD-EURGBP-GBPJPY-Technical-Analysis-Amid-Brexit-Deal-Vote.html?CHID=9&QPID=917702 https://t.co/TBdvAY6GN2
  • The Australian Dollar could reverse gains if #Brexit is forced to be delayed. Global growth slowdown woes and other fundamental risks may also undermine $AUDUSD upside progress. Get your $AUD market update from @ddubrovskyFX here: https://t.co/VAs2C3cpQj https://t.co/9mqJ0DSLZZ
  • Here is my trading video for the week ahead: '$EURUSD, #Pound, Volatility - The Biggest Risks and Opportunities Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2019/10/19/EURUSD-Pound-Volatility---The-Biggest-Risks-and-Opportunities-Ahead-.html
  • $GBPUSD is on the verge of pushing above five-year resistance. A break above with follow-through may precede considerable upside movement. Get your GBP/USD market update from @ZabelinDimitri here: https://t.co/0qfh7TRWJn https://t.co/GImIwuGodX
  • The $AUD may resume its downtrend while the #ASX 200 stock index powers higher as dovish monetary policy drives interest rates lower. Get your market update from @IlyaSpivak here: https://t.co/UPlHZrt6c2 https://t.co/EIIf9xackw
  • (Fundamental Forecast) Australian Dollar Could Wilt if Brexit Delayed, Growth Risks Hang $AUDUSD #Brexit - https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2019/10/19/Australian-Dollar-Could-Wilt-if-Brexit-Delayed-Growth-Risks-Hang.html?CHID=9&QPID=917702 https://t.co/2aOYhblN3g
BRL, Ibovespa Rise Up Central Bank Decision, Eyeing US-China Trade Talks

BRL, Ibovespa Rise Up Central Bank Decision, Eyeing US-China Trade Talks

2019-05-09 00:00:00
Dimitri Zabelin, Junior Currency Analyst


  • BRL and Ibovespa jump on central bank rate decision, commentary
  • Pension reforms, slower global growth, trade wars a major concern
  • US-China trade spat and weak economic activity pressuring policy

See our free guide to learn how to use economic news in your trading strategy!

The Brazilian Real and Ibovespa futures jumped after the 9-member Copom council in Brazil’s central bank unanimously decided to keep the Selic rate at the all-time low of 6.50 percent. Local assets rallied after board members stated that inflationary pressures are symmetric, and this likely cooled rate cut expectations and sent the Real higher.

BRL, Ibovespa Futures Gain

Chart Showing BRl, Ibovespa

This appears to be part of a broader trend whereby the expectations of dovish undertones from central bank officials are met with surprise by investors when policymakers announce a comparatively-less dovish outlook. The most recent examples was this month’s FOMC meeting and the RBA rate decision earlier this week.

The Brazilian monetary policy statement revealed that board members are showing greater concern over world and local growth prospects in part due to “the global outlook [remaining] challenging”. The sudden deterioration in US-China trade relations this week caught markets off guard and pressured emerging market economies and other cycle-sensitive assets.

The cautionary outlook from the central bank is also due to the slower growth in local economic activity at the tail end of 2018 which continued into the early stretches of 2019. One needn’t look much further than this month’s release of industrial production data which significantly undershot analysts’ expectations. Slower growth out of China – one of Brazil’s biggest clients for its iron-exporting sector – continues to pressure the Brazilian economy.

Furthermore, local risks over the volatility of President Jair Bolsonaro’s pension reforms continues to rattle local financial markets due to the weight they carry for South America’s largest economy. Much like Brexit and the BoE, the Brazilian central bank’s monetary policy is in large part catered toward whether the pension reforms can pass with many of the key elements intact.

Learn more about how Bolsonaro’s pension reforms may unleash a flood of capital into Brazilian assets.


--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.