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WisdomTree Brazilian Real ETF (BZF)

  • Apr. 2, 2012, 9:31 AM
    Brazil March PMI edges down to 51.1 from 51.4 previously. It's the 3rd consecutive month in expansion territory, led by domestic orders. Export orders, however, remained in negative territory, likely to give more fuel to finmin Mantega in his currency war fight.
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  • Mar. 22, 2012, 11:44 AM
    Brazilian inflation rises just 0.25% in the month ending in mid-March, slower than estimates for 0.38% and February's 0.53%. The Y/Y rate declines to 5.61% from 5.98%. The jobless rate clicks up to 5.7% from 5.5%, the lowest ever recorded for February, but local quirks make the number a questionable one.
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  • Mar. 15, 2012, 8:09 AM
    The real shoots higher as Central Bank of Brazil minutes indicate rates should continue to fall, but will stabilize above historic lows. The bank surprised markets last week by slashing rates 75 basis points to 9.75%. Brazil ETF: EWZ +0.9% premarket. No action yet in the real ETF (BZF).
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  • Mar. 12, 2012, 11:49 AM
    Brazilian President Rousseff blasts QE, saying the country "will defend itself from these openly protectionist policies ... This artificial currency depreciation is not regulated by the WTO ... we will do whatever is possible and impossible to defend Brazilian industry." The real (BZF) -1.6%. The Brazil ETF: EWZ -2.4%.
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  • Mar. 12, 2012, 9:47 AM
    Economists cut their forecast for Brazil's benchmark lending rate - the Selic - to 9% following the central bank's somewhat surprising 75 bp cut to 9.75% last week. Given the easier monetary policy, the consensus inflation forecasts for 2013 are hiked to 5.5%. Brazil ETF: EWZ +15.8% YTD.
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  • Mar. 8, 2012, 10:17 AM
    The Bovespa +1.2% in early trade following the central bank's somewhat surprising 75 basis point interest rate cut last night. The real (BZF -0.4%) stumbles just a bit. The Brazil ETF: EWZ +0.5%.
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  • Mar. 7, 2012, 8:22 PM
    Brazil's central bank cuts its benchmark rate by 75 basis points to 9.75%. Economists had been expecting a 50 basis point cut, but interest rate futures markets had priced in a healthy chance of 75.
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  • Mar. 7, 2012, 8:45 AM
    Brazil's central bank is expected to lower rates at its policy meeting tonight, but yesterday's weak GDP report brings up the question of how much of a cut? Markets are pricing in something greater than the 50 bps (bringing the benchmark to 10%) expected by economists. Brazil ETF: EWZ +16.1% YTD. Real ETF: BZF +7.3% YTD.
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  • Mar. 6, 2012, 7:42 AM
    Brazil's 2011 GDP growth comes in at 2.7%, short of a recent government forecast of 3% and well off the 4.5% target put in place at the start of the year. The economy grew 0.3% in Q4 (1.4% Y/Y). The central bank is in rate-cutting mode and the finmin "currency war" mode as the country looks to return to speedier growth.
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  • Mar. 2, 2012, 1:38 PM
    Brazil's February trade surplus of $1.15B was a 43% increase Y/Y. The U.S. has been the largest destination for Brazilian goods thus far in 2012 at $4.6B, followed by China at $4B. For sales, it reverses, with China moving $2.64B of product to Brazil and the U.S. $2.36B.
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  • Mar. 2, 2012, 3:04 AM
    Brazil launches a new "currency war" against the U.S. and Europe, warning the government won't "sit by passively" as developed nations pursue expansionary monetary policies at Brazil's expense. In response, Brazil is extending a tax on foreign borrowings and threatening further capital controls, but analysts expect the measures to have limited impact.
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  • Mar. 1, 2012, 8:21 AM
    Brazil February PMI rises to 51.4 (50.6 previously), an 11-month high. The index measuring the stock of finished goods not only remains below 50, but fell in February, notes HSBC economist Andre Loes, suggesting the manufacturing improvement is something beyond just the inventory cycle.
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  • Feb. 27, 2012, 7:45 AM
    Brazil's central bank president Tombini reiterates his commitment to continue cutting rates despite a survey showing current real rates are inconsistent with keeping inflation below the bank's 4.5% mandate. Tombini also says the bank will continue buying dollars to combat the real's rise, +9.2% YTD.
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  • Feb. 10, 2012, 3:10 PM
    Brazil's consumer prices rise 0.56% in January, the fastest pace in 9 months. The annualized rate slowed to 6.22%. "The economic slowdown didn't affect inflation ... there's strong inertia," says economist Solange Srour. Still, traders are maintaining bets of a 50 basis point cut in rates at the central bank's March meeting. EWZ -2.6%.
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  • Feb. 1, 2012, 10:59 AM
    Brazil January PMI rises to 50.6 from 49.1 in December, the first read above 50 since May. While the worst of the slowdown may be in the rear view mirror, HSBC economist Andre Loes cautions the number is only consistent with a sideways-moving economy. EWZ +2.2%.
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  • Jan. 31, 2012, 7:45 AM
    Brazil's December industrial production rises 0.9% against estimates for a 1% gain, still the largest jump since May and giving rise to hopes the country can reverse Q3's shrinkage in GDP.
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BZF Description
WisdomTree Brazilian Real Fund seeks to achieve total returns reflective of both money market rates in Brazil available to foreign investors and changes in value of the Brazilian Real relative to the U.S. dollar.
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Country: Brazil
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