The Brazilian real rose today as the favorable economic data from the U.S. caused the speculations that the Europe’s problems won’t be affecting the nation’s economy that much.
The pending home sales have risen for the three consecutive months, reaching the highest level since last October and reflecting the broad impact of the home buyer tax credit and the favorable housing affordability conditions. The Pending Home Sales Index rose 6.0 percent in April, following the gains of 7.1 percent in March.
The encouraging data from the U.S. eased the tension on the global markets slightly. This helped the real to return some of its strength.
USD/BRL dropped to 1.8400 as of 18:30 GMT today from the opening price of 1.8485. EUR/BRL traded near 2.2575 after opening at 2.2608.
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