Brazil Real Gains as Oil Rebound Overshadows Chinese Slump Data
- Chinese exports fell 10%, undermining hopes of a recovery
- Oil prices rebounded as crude inventories declined in U.S. hub
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Brazil’s real advanced as a rebound in oil prices overshadowed disappointing Chinese data and increased bets on a Federal Reserve interest-rate hike that bolstered the dollar.
The real gained 0.5 percent to 3.1787 per dollar Thursday in Sao Paulo after declining as much as 0.7 percent earlier. The Bloomberg Commodity Index gained 0.7 percent after sliding as much as 0.4 percent earlier. Raw-materials make up more than half of Brazil’s exports.