Brazil  Real Rises
World Economy

Brazil Real Rises

Brazil’s real followed commodities higher after a report showed Chinese exports unexpectedly rose last month in yuan terms. The real advanced 0.6% to 4.01 per dollar in Sao Paulo. The Bloomberg Commodity Index, which touched a record low on Tuesday, rose after China’s trade surplus widened and exports recovered. Commodities account for about half of Brazil’s exports. China, Brazil’s top trading partner, imported a record amount of crude last year as oil’s lowest annual average price in more than a decade spurred stockpiling and boosted demand from independent refiners. Iron-ore imports jumped to a record last month, while steel exports climbed as the nation sells its glut overseas. “China’s import of major commodities seems to remain on trend, which is a relief for Brazil,” said Camila Abdelmalack, an economist at CM Capital Markets in Sao Paulo. The real also advanced as retail sales unexpectedly rose in November by the most in a year as shoppers took advantage of holiday discounts. Sales surged 1.5% after a revised 0.5% increase in October.

Short URL : https://goo.gl/KmtWQj
  1. https://goo.gl/EdSNPP
  • https://goo.gl/JvRAB8
  • https://goo.gl/4ZQfCD
  • https://goo.gl/3tD0vL
  • https://goo.gl/sTfrrr

You can also read ...

Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
Algeria Trade Deficit Sharply Down
Algeria’s trade deficit declined by 83.6% to $490 million...
Farnborough Airshow Announces $192b in Orders
England’s Farnborough airshow this week saw deals worth $192...