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StoneX's weekly FX outlook says the real closed the week of July 28 at 4.732 per dollar, down 1.0% on the week. The dollar index was at 101.4, and the report expects the central bank to cut the Selic rate.
A stronger real reduces the local-currency cost of Brazilian soybean and corn exports, which can cap dollar-denominated export prices for buyers.
stonex.comStoneX Intelligence BrazilJul 31, 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.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% 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.
