Config.
Marché
Rapport
Unité

COT BRL/USD

Période
Échelle

As-of mardi · close vendredi · source CFTC

Long vs Short

Long et short en % d’OI (catégorie focus)

Δ 4 semaines

Variation du net vs le rapport d’il y a 4 semaines

Cette semaine

Catégorie Long Short Spreading Net Δ Long Δ Short Δ Net % OI long % OI short

Historique

FX · CME

What is the BRL/USD futures contract?

BRL/USD

Satellite of MXN/USD

A long means…

Exposure to a rise in the Brazilian real versus the dollar — the inverse of spot USD/BRL.

What is this?

The real is Brazil’s currency — Latin America’s largest economy, sensitive to Brasília’s rates, to commodities (soy, iron ore, oil) and to risk appetite. The CME future is quoted in dollars per real: when the real strengthens, the contract rises. Interbank spot is written USD/BRL, the other way round.

At expiry there is no delivery of reais: the contract settles to PTAX, the Central Bank of Brazil’s reference rate. Corporates and exporters lock in a rate here, as they would on an NDF; managers take a Brazil exposure.

Pitfalls

  • Cash-settled, unlike Mexican peso (physical).
  • Not MXN (6M, 095741).
  • Long BRL/USD is not long spot USD/BRL.

Univers LIX

Le positionnement n’est pas le risque

Le COT décrit qui est positionné. Le LIX décrit le niveau de risque de marché — 12 indicateurs, hors COT.