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Brazilian Real Aug '19 (L6Q19)

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Brazilian Real Futures Market News and Commentary

Dollar Index Climbs to a 2-Week High on Weakness in EUR/USD and Strength in USD/JPY

The dollar index (DXY00) on Friday rose +0.026 (+0.03%). Sep euro-fx futures (E6U9) closed down -0.0011 (-0.09%), and EUR/USD (^EURUSD) fell -0.0015 (-0.14%). Sep yen futures (J6U9) closed down by -0.0017 (-0.17%), and USD/JPY (^USDJPY) rose +0.18 (+0.17%). The dollar index moved higher Friday for a fourth day and posted a 2-week high on weakness in EUR/USD and strength in USD/JPY. EUR/USD tumbled to a 2-week low Friday on bearish carry-over from ECB Governing member Rehn's comments Thursday that it is better for the ECB "to overshoot than undershoot" on stimulus. Rehn's comments suggest he favors the ECB boosting stimulus measures when it meets next on September 12. The dollar gave up most of its gains Friday afternoon on comments from Minneapolis Fed President Kashkari who said recession risks have risen "quite a bit" and the Fed will "probably" cut interest rates since it is better to be early than late when responding to an economic slowdown. Friday's U.S. economic data was mixed for the dollar. U.S. July housing starts unexpectedly fell -4.0% to a 5-month low of 1.191 million, weaker than expectations of +0.2% to 1.256 million. Also, the University of Michigan U.S. Aug consumer sentiment fell -6.3 to a 7-month low of 92.1, weaker than expectations of -1.4 to 97.0. However, July building permits, a proxy for future construction, rose +8.4% to a 7-month high of 1.336 million, stronger than expectations of +3.1% to 1.270 million. The yuan fell slightly Friday by -0.13% to 7.0428 yuan/USD, modestly above Tuesday's 11-1/4 year low of 7.0726 yuan/USD. Trade tensions eased slightly Friday after President Trump late Thursday said he had a call scheduled "very soon" with Chinese President Xi Jinping on trade. USD/JPY moved higher Friday as a rally in stocks curbed the safe-haven demand for the yen. GBP/USD rose +0.51% Friday to a 1-week high, which limited strength in the dollar, on speculation UK opposition Labour Party leader Corbyn will find support to stop a no-deal Brexit. Big Picture Dollar Factors: Bullish factors for the dollar index include (1) the Fed's go-slow approach to cutting interest rates, (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) market expectations for four Fed rate cuts through the end of 2020, (2) trade tensions and Washington political uncertainty, and (3) the wide U.S. budget and current account deficits. Bearish factors for EUR/USD include (1) expectations for the ECB to cut interest rates by -10 bp at its September meeting and to restart its QE program, (2) weak Eurozone economic growth, (3) the extremely low 10-year bund yield of -0.727%, which illustrates the euro's poor 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
$1,237/1,125
First Notice Date
07/31/19
Expiration Date
07/31/19 (expired)

Seasonal Chart

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

Commitment of Traders Positions as of Aug 13, 2019

View Chart Details
Commercials - Long / Short
7,981 (+4,528)
9,582 (-4,486)
Non-Commercials - Long / Short
20,013 (+5,145)
19,337 (+13,738)
Dealers / Intermediary - Long / Short
1,400 (+1,050)
8,029 (unch)
Asset / Manager - Long / Short
3,072 (-1,204)
12,067 (+11,157)
Leveraged Funds - Long / Short
22,595 (+9,827)
8,352 (-1,892)
Other Reportables - Long / Short
926 (+8)
470 (-5)
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Price Performance

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Period Period Low Period High Performance
1-Month
0.25705 +3.33%
on 07/02/19
0.26865 -1.13%
on 07/18/19
+0.00576 (+2.22%)
since 07/01/19
3-Month
0.24135 +10.05%
on 05/20/19
0.26865 -1.13%
on 07/18/19
+0.01236 (+4.88%)
since 05/01/19
52-Week
0.23135 +14.81%
on 09/13/18
0.27080 -1.92%
on 01/31/19
+0.00866 (+3.37%)
since 08/01/18

More Brazilian Real Quotes

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Most Recent Stories

More News
USDCHF Bounces Off Lower Prices On Correction

USDCHF bounces off lower prices on correction the past week. This has opened the door for more gain in the new week.

Dollar Index Climbs to a 2-Week High on Weakness in EUR/USD and Strength in USD/JPY

The dollar index (DXY00) on Friday rose +0.026 (+0.03%). Sep euro-fx futures (E6U9) closed down -0.0011 (-0.09%), and EUR/USD (^EURUSD) fell -0.0015 (-0.14%). Sep yen futures (J6U9) closed down by -0.0017...

Today's Stock, Metal, and Energy Forecasts, Aug 16 2019

Take a look at today's market summary!

Dollar Index Rallies to a 2-Week High on Weakness in EUR/USD and Strength in USD/JPY

The dollar index (DXY00) this morning is up +0.187 (+0.19%). Sep euro-fx futures (E6U9) are down -0.0037 (-0.33%), and EUR/USD (^EURUSD) is down -0.0036 (-0.32%). Sep yen futures (J6U9) are down by -0.0025...

Bearish Turn For GBPJPY Near 130.04! - Elliott Wave Analysis

GBPJPY is recovering in a three-wave move from the lows, however it can be only temporary, as it can be part of a higher degree fourth wave correction.

Anticipated Central Bank Easing Supports Stock Index Futures

U.S. stock index futures advanced due to hopes of more stimulus from central banks .

Weaker Prices Expected On EURGBP! - Elliott Wave Analysis

A powerful reversal pattern on the EURGBP is suggesting even more bearish price activity!

EUR/USD, downtrend continuation to 1.1025

The downtrend may be expected to continue in case the market drops below support level 1.1075, which will be followed by reaching support level 1.1027

Elliott Wave View: Bitcoin (BTCUSD) Looking for Larger Correction

Bitcoin can see larger correction and while short term rally fails below Aug 6 high, the crypto currency can extend lower.

EURJPY Remains Vulnerable With Eyes On Further Weakness

EURJPY remains vulnerable with eyes on further weakness. On the downside, support comes in at the 117.50 level

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 56% Buy with a Strengthening short term outlook on maintaining the current direction.

Longer term, the trend strength is Average. Long term indicators fully support a continuation of the trend.

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Key Turning Points

2nd Resistance Point 0.26797
1st Resistance Point 0.26703
Last Price 0.26561
1st Support Level 0.26423
2nd Support Level 0.26237

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52-Week High 0.27080
Last Price 0.26561
Fibonacci 61.8% 0.25573
Fibonacci 50% 0.25107
Fibonacci 38.2% 0.24642
52-Week Low 0.23135

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