In an extremely globalized world, we need to analyze the situation in the United States and other nations to determine the opportunities and threats to the Brazilian economy in 2019. External reflections will echo in the Brazilian economy and influence the behavior of financial markets and key assets.
For 2019, the expectation is that the North American economy 
will slow down for several reasons: continuous years of growth, the slowdown of the global economy, and the impact of increases in the basic interest rate.
The dollar is expected to remain at current high levels for much of 2019.
On the other hand, the Brazilian currency should be attractive, as the Selic rate at its lowest level since the Real Plan reduces the momentum of foreign investors seeking profitability in fixed income. Therefore, if Brazil can implement pension and fiscal reforms, there will be a positive flow of investments in the medium and long term. However, the dollar today tends to appreciate against currencies worldwide. It would not be different for the 
Real. At least in the first half, we will see a lot of volatility in the currency, but we do not expect strong appreciations of the Real against the dollar.
Notably, the economies of the eurozone, the United Kingdom, Japan, and China have begun to weaken. In contrast, the U.S. economy has accelerated, thanks to fiscal stimulus.
For the Brazilian economy, the expectation is growth. Global trade disputes may be positive factors for the country’s exports.
Never before has the Brazilian had the basic rate at such a low level.
Source: Closel Comunicação