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Brazil's unemployment rate fell to 6.4% in the three months through September, below market expectations and the second-lowest level on record. Strong job creation has raised fears of inflation and a more aggressive central bank response.
Expectations of higher Brazilian interest rates tend to support the real, which can slow the pace of Brazilian export price cuts. The tight labour market also signals firm domestic demand for meat and feed.
reuters.comLuana Maria BeneditoOct 31, 2024After 213 past bearish macro events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.5% to +0.9%), and +0.2% 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.
