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Brazil's currency has slipped about 5% and the Bovespa index fell nearly 8% over the past two weeks as investors await clarity on president-elect Lula's economic policies. Lula faces difficult choices in assembling his new government.
Currency weakness from policy uncertainty makes Brazilian commodity exports cheaper in dollar terms, which can add pressure on global soybean and corn export prices.
reuters.comAnthony BoadleNov 21, 2022After 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.
