|Day's Range||0.265 - 0.267|
|52 Week Range||0.2377 - 0.3204|
Bitcoin volatility has plunged to levels that in theory could push day traders to switch from virtual to tangible currencies.
The euro was recovering from a knee-jerk drop, which came amid reports German Chancellor Angela Merkel won’t seek re-election as party leader after two decades at the helm.
As widely expected, far-right candidate Jair Bolsonaro won Brazil’s presidency Sunday, but investors worry what his victory could mean for the future of Brazil’s much-needed reforms.
With a far-right candidate leading in the presidential polls, potential for a fragmented Congress and a possible deterioration in economic data, investors worry about what’s next for Brazil following October’s election.
The Brazilian real fell to a 31-month low versus the U.S. dollar on Thursday after having trading down all week as political risk in the South American nation rose. But there could me much more pain in store for the real, as it hovers dangerously close to an all-time historical low against the buck.
In today's Daily Market Commentary webinar, we had several questions about the decline in Brazilian stocks, like Petrobras ( PBR), and the Brazilian currency, the real. Widespread declines in EM currencies including the real, Turkish lira, and Chinese yuan preceded the bearish shocks the market experienced in the last half of 2015. When the U.S. dollar (USD) rises in value, international investors are often attracted to USD assets including bonds and stocks available on U.S. exchanges.