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The Brazilian real weakened as much as about 2% against the dollar before recovering to a 0.8% loss in Asian trading after Lula's election win. The iShares MSCI Brazil ETF fell 2% in US premarket trading and Petrobras shares slumped 6%.
The market reaction to the election is mostly confined to currency and equity moves. The effect on agricultural commodity prices is minimal.
bloomberg.comVinicius Andrade, Netty Idayu IsmailOct 31, 2022Not 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.
