Brazilian ETF (EWZ) Gets Bruised
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The MSCI Brazil Index Fund (NYSE: EWZ), an ETF that tracks the equity market in Brazil, is down 3 percent Monday and 16.5 percent in the past three months. The move lower this afternoon mirrors other markets which are being dragged down by headlines out of Europe.
Lower oil and metal futures prices also helped to push down the equity market in Brazil, as shares in petroleum and mining companies took a hit.
Brazil’s currency is lower against USD Monday. The move in the currency comes as officials in Brazil said they are willing to tolerate a lower exchange rate to help boost exports.
Lower oil and metal futures prices also helped to push down the equity market in Brazil, as shares in petroleum and mining companies took a hit.
Brazil’s currency is lower against USD Monday. The move in the currency comes as officials in Brazil said they are willing to tolerate a lower exchange rate to help boost exports.
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