Forex Trading Strategies: Brazil’s Real Rises on Better Consumer Sentiment

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Friday, July 30, 2010

Brazil’s Real Rises on Better Consumer Sentiment

The�Brazilian real advanced today against the�euro on�the�speculation that demand for�the�South American exports would grow as�the�European economic outlook brightened. The�currency declined versus the�greenback.

The�index of�consumer sentiment in�the�countries of�the�Eurozone rose from 99 to�101.3 in�June. The�resulting appetite for�the�risk on�the�markets helped the�riskier currencies, including the�real, to�gain.

USD/BRL rose to�as�1.7600 of�8:50 GMT after opening at�1.7580. EUR/BRL traded at�2.2921 after it opened at�2.3019.

If you want to�comment on�the�Brazilian real�s recent action or�have any questions regarding this currency, please, feel free to�reply below.

Earlier News About the Brazilian Real:

This entry was posted on Friday, July 30th, 2010 at 10:51 am and is filed under Brazilian Real. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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