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Brazilian Real Jun '19 (L6M19)

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Brazilian Real Futures Market News and Commentary

Dollar Index Closes Rallies to 2-week High on Strong U.S. Economic Data

The dollar index (DXY00) on Friday rallied sharply to a new 2-week high and closed the day up +0.55 (+0.56%). June euro-fx futures (E6M9) closed -0.0072 (-0.64%), and EUR/USD (^EURUSD) fell -0.0068 (-0.60%). June yen futures (J6M9) closed down -0.0020 (-0.22%), and USD/JPY (^USDJPY) rose +0.17 (+0.16%). The dollar index on Friday rallied on solid U.S. economic reports that were hawkish for Fed policy. The U.S. May retail sales report of +0.5% m/m for both the headline and ex-autos reports was close to expectations of +0.6% headline and +0.4% ex-autos. Meanwhile, the U.S. May industrial production report of +0.4% m/m was stronger than expectations of +0.2%. The preliminary-June U.S. consumer sentiment index fell by -2.1 points to 97.9, but that was in line with market expectations and U.S. consumer sentiment remains generally strong. The Chinese yuan on Friday's weakened slightly by -0.1% due to Friday's weak Chinese May industrial production report of +5.0% y/y, which was the weakest report since 2002 and indicated that the Chinese manufacturing sector continues to slow due to the US/Chinese trade war. GBP/USD fell sharply on Friday and closed -0.67% at $1.2589/GBP, just mildly above the late-May 5-1/2 month low of $1.2559/GBP. Boris Johnson is cruising to victory in the Conservative Party leadership race and the markets are concerned about a no-deal Brexit given his vow to take the UK out of the EU by the October 31 deadline even if a no-deal Brexit is required as a last resort. Conservative Party MPs will whittle down the list of candidates from the current list of six to just two candidates with votes next Tuesday through Thursday. The final two candidates will then be voted on by grassroot Conservative Party members and a new Party leader and Prime Minister will take power in the week of July 22. Big Picture Dollar Factors: Bullish factors for the dollar index include (1) the Fed's balance sheet drawdown program through September and the Fed-dot forecast for one more rate hike in 2020 vs near-zero policy rates by the ECB and BOJ, (2) relative strength in the U.S. economy, and (3) the repatriation of U.S. corporate overseas cash under the 2018 tax law. Bearish factors include (1) the recent decline in the 10-year T-note yield to a 1-3/4 year low of 2.052%, which weakens the dollar's interest rate differentials, (2) market expectations of an 80% chance for a rate cut at the July FOMC meeting, (3) trade tensions and Washington political uncertainty, and (4) the wide U.S. budget and current account deficits. Bearish factors for EUR/USD include (1) the ECB's promise to leave interest rates unchanged at least through mid-2020, (2) weak Eurozone economic growth, (3) the slump in the 10-year bund yield to a record low of -0.270%, which undercuts the euro's interest rate differentials, and (4) Brexit risks.

Contract Specifications

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Contract
Brazilian Real
Contract Size
BRL 100,000
Tick Size
0.0001 points ($10.00 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 2:00p.m.) CST
Exchange
CME
Point Value
$100,000
Margin/Maintenance
$1,100/1,000
First Notice Date
05/31/19
Expiration Date
05/31/19 (expired)

Seasonal Chart

Brazilian Real Jun '19
Average Price Chart for 5 Prior Jun Contracts

Commitment of Traders Positions as of Jun 11, 2019

View Chart Details
Commercials - Long / Short
33,460 (-143)
8,209 (+5,092)
Non-Commercials - Long / Short
5,649 (-1,342)
31,296 (-6,374)
Dealers / Intermediary - Long / Short
29,391 (-188)
0 (unch)
Asset / Manager - Long / Short
1,296 (+63)
20,158 (-11,848)
Leveraged Funds - Long / Short
4,798 (-3,429)
16,064 (+8,716)
Other Reportables - Long / Short
811 (+129)
470 (-90)
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Price Performance

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Period Period Low Period High Performance
1-Month
0.24225 +4.75%
on 05/20/19
0.25590 -0.84%
on 05/01/19
-0.00055 (-0.22%)
since 04/30/19
3-Month
0.24225 +4.75%
on 05/20/19
0.26600 -4.61%
on 03/20/19
-0.01160 (-4.37%)
since 02/28/19
52-Week
0.23300 +8.91%
on 09/13/18
0.27210 -6.74%
on 01/31/19
-0.01080 (-4.08%)
since 05/25/18

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Most Recent Stories

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EURUSD Expects More Weakness On Bear Pressure

EURUSD expects more weakness on bear pressure as we enter a new week. Support comes in at the 1.1150 where a violation will turn risk to the 1.1100 level.

USDCHF Recovery Threats Expected In The New Week

USDCHF recovery threats expected in the new week following its past week gain. Resistance resides at the 1.0000 level.

Dollar Index Closes Rallies to 2-week High on Strong U.S. Economic Data

The dollar index (DXY00) on Friday rallied sharply to a new 2-week high and closed the day up +0.55 (+0.56%). June euro-fx futures (E6M9) closed -0.0072 (-0.64%), and EUR/USD (^EURUSD) fell -0.0068 (-0.60%)....

GBPUSD Turns Lower On More Bearishness

GBPUSD turns lower on more bearishness following its recent weakness.

Gold Futures Advance to a 14 Month High

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Dollar Index is Mildly Higher on Strong U.S. Economic Data

The dollar index (DXY00) today is mildly higher by +0.29 (+0.30%). June euro-fx futures (E6M9) are down -0.0041 (-0.36%), and EUR/USD (^EURUSD) is down -0.0037 (-0.33%). June yen futures (J6M9) are down...

Geopolitics, Data and Dollar - Blue Line FX Rundown

We could see a directional break in the Dollar or Euro, lets take a look at the levels to know heading into tomorrow. We have a bullish tilt on the Yen holding above major three-star support and see a...

Dollar Index is Little Changed as a Drop in EUR/USD Offsets Weak U.S. Economic Data

The dollar index (DXY00) on Thursday was unchanged. June euro-fx futures (E6M9) closed down -11 (-0.09%), and EUR/USD (^EURUSD) fell by -0.0009 (-0.08%). June yen futures (J6M9) closed up +13 (+0.14%),...

Barchart Technical Opinion

The Barchart Opinion rating is a Hold. Short term, the outlook is Steady.

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Key Turning Points

2nd Resistance Point 0.25632
1st Resistance Point 0.25503
Last Price 0.25375s
1st Support Level 0.25118
2nd Support Level 0.24862

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52-Week High 0.27210
Fibonacci 61.8% 0.25716
Last Price 0.25375s
Fibonacci 50% 0.25255
Fibonacci 38.2% 0.24794
52-Week Low 0.23300

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InsideFutures Commentary

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