USD/BRL: the Brazilian currency just lost 7% of value to the USD
Brazil is struggling on both the humanitarian and the financial frontы. As a result, Brazilian real is weakening
Will the indicators bring chance to the USD bulls?
The United States will publish the indicators of retail sales and core retail sales on October 16, at 15:30 MT time. The level of retail sales shows the change in the total value of sales at the retail level. At the same time, its core indicator excludes automobiles from the calculation. Last time, the indicator of retail sales increased by the higher-than-expected 0.4%. Despite that, the level of core retail sales remained unchanged (vs. the forecast of +0.1%). The releases resulted in the mixed performance of the USD. Let’s see if they lead to a different outcome this time.
• If the actual levels of indicators are higher than the forecasts, the USD will rise;
• If the actual levels of indicators are lower than the forecasts, the USD will fall.
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