USDBRL and the benchmark Ibovespa equity index are teetering on the edge of major price levels. If breached with follow-through, a selloff or rally may ensue.
The Brazilian Real and Ibovespa will be on their toes as lawmakers in Brazil‘s legislature vote on the constitutional legality of Bolsonaro’s pension reforms.
USD/BRL traders will be closely watching Brazilian GDP and manufacturing PMI amid the ongoing pension negotiations along with the Fed Chairmans congressional testimony.