Loading…
Brazil's real gained more than 2% against the dollar after falling about 2% earlier in the session, following Luiz Inacio Lula da Silva's election as president. The Bovespa index opened down 2% but closed up 1.3%, and MSCI's Brazil index gained 4%.
The election outcome lifted Brazilian assets and the real, which tends to make Brazilian exports and feed-linked costs somewhat cheaper for dollar buyers. The move is mostly a currency and equity reaction with limited direct effect on feed supply.
reuters.comTatiana BautzerOct 31, 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.
