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The Sao Paulo stock exchange closed down 13.9% on March 16, 2020, and the real weakened past 5.00 per dollar for the first time. The Ibovespa had fallen 27% since March 6 amid global pandemic panic and the US Fed's rate cut to near zero.
The record-low real raises import costs for Brazil and makes Brazilian soybean and corn exports cheaper in dollar terms, which can pressure global prices. Weaker domestic demand expectations add to the downside risk.
businesstimes.com.sgMar 16, 2020After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
