We continue to see the USD/BRL pair trading at 5.45 by end-2020 and at 5.10 by end of next year. They forecast the Brazilian GDP will drop by 7.3% in 2020 and pickup 4.5% in 2021. Key Quotes: “We continue to see the USD/BRL trading at 5.45 by end-2020 and 5.10 by end-2021.” “Volatility seen in June is likely poised to remain until year-end. Externally, because of underlying US-China tensions, US elections, and a second Covid-19 wave. Domestically, the drivers are the uncertainties created by Covid-19, and their consequent fiscal costs.” “In 2020, with falling demand and a more depreciated currency, imports will plummet (USD 148.1bn in 2020), exports will drop relatively less (USD 192.4bn), FDI will almost halve (at USD 43.5bn), and the current account deficit (CAD) should narrow to -0.9% of GDP in 2020. In 2021, with improving exports (USD 209.6bn), imports (USD 166.1bn), and FDI (USD 58.7bn), CAD would be -2.2% of GDP.” “We still see the Selic rate at 2.25% by the end of the year and at 3.25% by end-2021.” 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 Forex Today: Fears won the daily battle FX Street 3 years We continue to see the USD/BRL pair trading at 5.45 by end-2020 and at 5.10 by end of next year. They forecast the Brazilian GDP will drop by 7.3% in 2020 and pickup 4.5% in 2021. Key Quotes: “We continue to see the USD/BRL trading at 5.45 by end-2020 and 5.10 by end-2021.” “Volatility seen in June is likely poised to remain until year-end. Externally, because of underlying US-China tensions, US elections, and a second Covid-19 wave. Domestically, the drivers are the uncertainties created by Covid-19, and their consequent fiscal costs.” “In 2020, with falling demand and a more depreciated… 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.
