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Latin American stocks and most currencies retreated from recent highs after Federal Reserve comments implied a long road to recovery from the coronavirus crisis. The Fed projected a 6.5% GDP decline this year and signaled years of continued monetary support.
Risk appetite weakened as investors reassessed the pace of economic recovery.
Weaker risk appetite tends to push EM currencies lower against the dollar, raising the cost of dollar-linked imports such as feed ingredients for Latam buyers. The effect on grain and meal prices is indirect.
reuters.comSusan Mathew10.06.2020Nach 301 vergangenen Ereignisse (bullisch, Makro) bewegte sich Brasilianischer Real (BRL pro USD) im Median über 5 Handelstage um +0,4 % (57% höher; mittlere Hälfte -1,2 % bis +1,7 %) und über 20 Handelstage um +1,0 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
Fed's cautious outlook on June 10 (6.5% GDP decline, prolonged stimulus) cut risk appetite and weakened EM currencies including the real, a sentiment channel that could contribute to a sharp BRL move.
