Analysts expect Brazil’s economy to grow modestly this year before posting more impressive growth figures in 2018. Still, that is better than the recently ended recession, which plagued Brazilian assets.
“Brazil suffered through its worst recession on record during 2015 and 2016, just as a giant corruption scandal and fierce political infighting made it almost impossible for the government to take effective measures to heal an economy wrecked by the end of a commodities boom,” according to MarketWatch.
Traders who are betting on a quick turnaround could look to the two times leveraged ProShares Ultra MSCI Brazil (NYSEArca: UBR) or the three times leveraged Direxion Daily Brazil Bull 3x Shares (NYSEArca: BRZU). On Wednesday, BRZU was the best-performing US-listed ETF on an intraday basis.
For more information on the Brazilian markets, visit our Brazil category.