Political risk and an unsupportive flow outlook leave the Credit Suisse analyst team still reluctant to be structurally BRL bullish. In the meanwhile, strong inflation data and a benign external picture suggest near-term potential for the USD/BRL move lower to extend to 5.00. Key quotes “While we continue to see politics and the near-term flow outlook as giving us reason for caution, we acknowledge that hopes for higher carry, perception of BRL being still undervalued and of Brazilian assets under-owned, combined with a firmly constructive external picture suggest that the current move lower in USD/BRL might have scope to extend further before the more technical drivers such as the overhedge flow, or renewed political risk become the driving factors of BRL performance.” “We would now see potential for USD/BRL to trade as low as 5.00 in the near-term, at which point we think that positioning for a tactical pullback back towards to 5.30-5.35 area will become attractive again.” 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 Top 3 Price Prediction Bitcoin. Ethereum, Ripple: Bitcoin tumbles as altcoins present the best buy-the-dip opportunities FX Street 2 years Political risk and an unsupportive flow outlook leave the Credit Suisse analyst team still reluctant to be structurally BRL bullish. In the meanwhile, strong inflation data and a benign external picture suggest near-term potential for the USD/BRL move lower to extend to 5.00. Key quotes “While we continue to see politics and the near-term flow outlook as giving us reason for caution, we acknowledge that hopes for higher carry, perception of BRL being still undervalued and of Brazilian assets under-owned, combined with a firmly constructive external picture suggest that the current move lower in USD/BRL might have scope to extend… 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.
