The USD/BRL will likely trade around 3.90 during the first half of next year according to analysts at CIBC. They don’t see resurfaced political turmoil in Brazil. Key Quotes: “Bolsonaro’s departure from the PSL party and Lula’s release from prison spooked market participants last week, seeing USD/BRL hover around 4.2 and further appreciate on the back of global trade concerns. Despite the aforementioned political noise, the congressional agenda remains intact, with leaders continuing to push for administrative and tax reform proposals through congress. We don’t expect the resurfaced political turmoil to derail plans for reform, trade opening and privatization agendas.” “We look for BRL upside, driven by potential USD inflows (amounting to BRL200-300 bln) from the TOR (transfer of rights) auctions, and the privatization of Electrobras. Moreover, the BCB has now signalled a pause for its December meeting, following an additional rate cut of 50 bps, which should provide another tailwind to the BRL into 2020. We maintain our downward USD/BRL bias towards the 3.9 mark.” 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 EUR/GBP: Forecast at 0.875 on 1-12 month horizon – Danske Bank FX Street 3 years The USD/BRL will likely trade around 3.90 during the first half of next year according to analysts at CIBC. They don't see resurfaced political turmoil in Brazil. Key Quotes: "Bolsonaro's departure from the PSL party and Lula's release from prison spooked market participants last week, seeing USD/BRL hover around 4.2 and further appreciate on the back of global trade concerns. Despite the aforementioned political noise, the congressional agenda remains intact, with leaders continuing to push for administrative and tax reform proposals through congress. We don't expect the resurfaced political turmoil to derail plans for reform, trade opening and… 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.
