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Rabobank says the Brazilian real is under pressure from fiscal developments after the presidential election, and forecasts USD/BRL at 5.30 by end-2022 and end-2023. The bank says a credible fiscal plan could partly reverse the trend.
A weaker real supports Brazilian export competitiveness for soybeans, meal and corn, which can weigh on world feed prices at the margin.
teletrade.orgDec 23, 2022After 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.
