Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Oblomov who wrote (31370)	3/19/2008 11:42:52 AM
From: elmatador	Respond to of 218249

Brazil Real Gains: U.S. Slump Won't Curb Exports. ``Brazil has strong fundamentals,'' said Nigel Rendell, senior emerging markets analyst for RBC Capital Markets in London. ``The real looks stable. We see it as an outperformer.'' Brazil Real Gains on Speculation U.S. Slump Won't Curb ExportsBy Guillermo Parra-Bernal March 19 (Bloomberg) -- Brazil's real strengthened for a second day amid speculation that an economic slowdown in the U.S. will fail to cut demand for Latin America's commodity exports. The real gained 0.3 percent to 1.6849 per dollar at 8:50 a.m. New York time, from 1.6891 yesterday. The currency yesterday posted its biggest gain since Jan. 24 as an interest-rate cut by the Federal Reserve made yields on Brazilian fixed-income securities more attractive. ``Brazil has strong fundamentals,'' said Nigel Rendell, senior emerging markets analyst for RBC Capital Markets in London. ``The real looks stable. We see it as an outperformer.'' The real has gained 23 percent against the dollar over the past 12 months as rising commodity exports and purchases of local financial assets swelled dollar inflows. The country's benchmark lending rate is 11.25 percent, 9 percentage points above the Fed's overnight target of 2.25 percent. The Fed reduced the target rate three-quarters of a percentage point yesterday, bringing it down 3 percentage points since September in a bid to shore up growth in the world's biggest economy. Brazilian exports rose to $3.5 billion in the week ended March 16 from $3.3 billion the previous week, signaling resilience even as the credit seizure in the U.S. and other developed economies begins to curb consumer and business spending. To contact the reporter on this story: Guillermo Parra-Bernal in Sao Paulo at gparra@bloomberg.net