Brazilian Real – Currency News
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On Thursday Turkey’s central bank finally caved into financial markets and jacked up interest rates by a hefty 4.75 per cent raising the benchmark rate to 15 per cent promising to remain tough on inflation.
The U.S. Dollar Index (DXY) suffered its worst one-day decline in ten months on Friday in spite of an unexpected acceleration in the rate of core inflation and what appeared to be an upward revision to U.S. interest rate expectations. After the Bureau of Labor Statistics announced that U.S. consumer prices, excluding food and energy, […]
A near-$2 rise in the price of oil supported the so-called ‘commodities currencies’ on Friday, many of which gained close to a percent against the US dollar and made respectable gains against the euro and Japanese yen. Oil’s 3.9% rise to $48.74 per barrel (NYMEX crude futures, September delivery) followed news that US and Canadian […]
It seems not long ago that forecasts for dollar-to-real were in the 4s and 5s. Much has changed however, and despite political uncertainty prevailing in Brazil, the real is now set to move to more expensive levels, at least according to BNP Paribas’ chief Latin America strategist, Marcelo Carvalho. Carvalho believes that the real will strengthen […]
The UK is on course for a hung parliament following yesterday’s general election and the British currency has tumbled to multi-week lows against most currencies. As of 3am GMT, with around half of the votes counted, it looks fairly likely that the ruling Conservative party will win the most seats, but that it will fall […]
Within the past several hours, a story that will no doubt mushroom over the coming days has developed. We have, it seems, the makings of another gulf crisis. Early this morning, four Arab nations, led by Saudi Arabia, have announced that they have severed diplomatic ties with Qatar and are acting to close all access […]
Brazil’s financial markets are in shock following further revelations of bribery and corruption involving the country’s president, Michel Temer. President Temer was yesterday forced to deny newspaper reports that he had discussed paying off a witness in an ongoing corruption investigation. And in a day of full scale political turmoil, two MPs began impeachment proceedings […]