Dead Cat Bounce or Overshooting?
Brazil’s real headed for its longest winning streak since May as U.S. oil approached $50 a barrel for the first time since July, spurring gains in emerging markets and the currencies of commodity-producing nations.
The real gained 1 percent to 3.8152 per dollar at 9:43 a.m. in Sao Paulo, extending its advance over the past four days to 5.1 percent. A gauge of emerging-market currencies climbed 0.9 percent, the benchmark gauge for developing-nation stocks gained for a sixth day and raw-materials prices rallied as speculation builds the Federal Reserve will hold off raising interest rates this year to shield the economy.
Brazil Energy Insight 
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