Analysts at TD Securities see the BCB on hold in the coming months, focusing on targeted FX intervention and maintaining rate support for BRL as it adjusts to the new BoP reality. USD/BLR is trading at 5.011. Key quotes “Brazil’s balance of payments position was structurally strained before the Covid-19 outbreak, underpinning our bearish BRL view.” “We forecast that USD/BRL will trade to 5.50 by the end of Q3, and look for it to stabilize around that level as the global economy recovers from the Covid-19 shock. We see BRL appreciation in Q1’21 to 5.35, 5.10 in Q2’21, 4.90 in Q3 and Q4’21.” “The BCB in our view is likely to maintain as much interest rate support for BRL as is possible. We continue to see the BCB remaining on hold in the coming months, before forecasting gradual rate hikes of 25bps per meeting beginning in Q4 of this year.” 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 NZD/USD: The kiwi under gravitational pull – ANZ FX Street 2 years Analysts at TD Securities see the BCB on hold in the coming months, focusing on targeted FX intervention and maintaining rate support for BRL as it adjusts to the new BoP reality. USD/BLR is trading at 5.011. Key quotes “Brazil's balance of payments position was structurally strained before the Covid-19 outbreak, underpinning our bearish BRL view.” “We forecast that USD/BRL will trade to 5.50 by the end of Q3, and look for it to stabilize around that level as the global economy recovers from the Covid-19 shock. We see BRL appreciation in Q1'21 to 5.35, 5.10 in Q2'21, 4.90 in… 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.
