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The Brazilian real rose 0.8% against the dollar on Monday, leading gains across Latin American currencies as the dollar index slipped 0.1%. Investors were cautious ahead of a National Monetary Council meeting that could change Brazil's 2023-24 inflation targets.
A firmer real makes Brazilian soymeal, corn and other exports slightly more expensive in dollar terms, which can weigh on Brazilian export pricing; the move is largely a routine currency update with limited direct effect on feed prices.
kitco.comFeb 13, 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 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), 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.
