Analysts at Rabobank point out that Brazilian assets had a mixed last week as the Copom statement brought a neutral BCB tone and forward guidance. Key Quotes “The authority continues to signal that Selic rate will likely remain on hold as long as the weak BRL does not derail expectations (and balance of risks) for a target-consistent inflation path.” “We stick to the view that the (temporary) effects from the BCB interventions explain most of the gap between the actual FX rate from our short-term fair value estimate for USD/BRL, currently running at 4.00-4.10.” “Amid a slew of economic data, the week features important monetary policy events such as the Copom minutes (Tue) and the 2Q18 inflation report (Thu). Both may provide further information/hints on the BCB’s scenario assessment, inflation forecasts and policy guidance. Another relevant event is the CMN (Monetary Council) meeting on Tuesday, which will reaffirm the inflation target for 2019 and 2020 (center at 4.25% and 4.00%, respectively) and establish the goal for 2021.” “In politics, the highlight is Tuesday’s ruling by the second team of the Supreme Court of an appeal (for a suspension of sentence) from former president Luiz Inácio “Lula” da Silva.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Sweden: Election upset cannot be ruled out – Nordea Markets FX Street 4 years Analysts at Rabobank point out that Brazilian assets had a mixed last week as the Copom statement brought a neutral BCB tone and forward guidance. Key Quotes "The authority continues to signal that Selic rate will likely remain on hold as long as the weak BRL does not derail expectations (and balance of risks) for a target-consistent inflation path." "We stick to the view that the (temporary) effects from the BCB interventions explain most of the gap between the actual FX rate from our short-term fair value estimate for USD/BRL, currently running at 4.00-4.10." "Amid a slew of economic data,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
