FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Brazil's Q3 GDP data will be released this week. Analysts have a close look on the data as it will confirm depth of the economic recession. Last week political uncertainty developed in the country with the arrest of Workers' Party Senate leader Delcídio do Amaral. The incidence took plance before some important fiscal consolidation bills were to pass in the parliament.
In absent of meaningful fiscal reform, the economic activity may decelerate further; therefore, BRL is priced to depreciate further. It is better to long USDBRL, recommends Barclays.
The bank added, "We anticipate a contraction of 3.9% y/y, with consensus expecting -4.2%. October's industrial production will be released on Thursday (consensus -10.7% y/y)".
