The central bank of Brazil cut interest rates by 50bps to a record low level of 5.5% yesterday leading to a major sell-off in the real today. The decision was taken after the market close yesterday and while expected – it still results in a major pressure on the currency. The main rate was 14.5% as recently as in 2016! Weaker BRL means pressure on coffee prices – the commodity is down again on Thursday by around 1.5% and testing the key support of 98.50.
Daily summary: Weak US data drags markets down, precious metals under pressure again!
BREAKING: US RETAIL SALES BELOW EXPECTATIONS
Politics batter the UK bond market once more, as Starmer remains under pressure
Takaichi’s party wins elections in Japan – a return of debt concerns? 💰✂️
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
