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The Brazilian real ended the week of September 23 at BRL 5.248, down 0.2% on the week, up 0.9% on the month and down 5.8% year to date against the dollar. StoneX cited Fed tightening, European energy stagflation risk and approaching Brazilian elections as bullish dollar factors, offset by high carry rates and elevated commodity prices.
Currency moves shape the cost of Brazilian soy, corn and meal for global buyers. High commodity prices supporting the real can cap Brazilian export price competitiveness.
stonex.comStoneX Intelligence BrazilSep 26, 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.
