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A Reuters poll of 26 FX analysts expects Brazil's real to gain about 0.6% over three months to 4.81 per US dollar, from 4.84. The currency is expected to lose 3.2% over twelve months to 5.00 per dollar.
A firmer real makes Brazilian soybean meal, corn and other exports cheaper in dollar terms for importers, which can weigh on Brazilian origin prices and support basis levels for buyers.
reuters.comGabriel BurinJul 6, 2023After 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.
