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Inflation in Brazil fell below this year's official target, leading economists to suggest the central bank could cut rates by 50 basis points rather than 25. The soft inflation data is the trigger for the revised expectation.
Lower Brazilian rates tend to weaken the real, which supports Brazilian export competitiveness in soybeans, meal and corn and can pressure global soymeal prices.
reuters.comJul 25, 2023After 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.
