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The Mexican peso fell after Mexico's economy grew only 0.1% month-on-month in February, missing estimates, while a stronger dollar weighed on Latin American currencies. Brazil's real dropped 0.6% against the dollar despite a record March current account surplus.
Currency moves in Latin America affect the competitiveness of Brazilian and Argentine oilseed and grain exports and the cost of imports for feed buyers; a weaker real typically encourages farmer selling and supports soy and corn export flows.
finance.yahoo.comBansari Mayur KamdarApr 25, 2023After 301 past bullish macro events, USDBRL moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
Not enough comparable past events yet for a historical read.
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.
