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Latin American currencies slipped on June 14 after a weak start to the week, pressured by inflation worries and slowing global growth ahead of an expected three-quarter-point Fed hike. Peru's sol rose ahead of the restart of the Las Bambas copper mine under a truce starting June 15.
Brazil's real fell 0.5% near one-month lows after weak April services data.
A stronger dollar and weaker Brazilian real make Brazilian soybean and corn exports cheaper in dollar terms, which can pressure global feed grain and meal prices. Risk-off moves in emerging markets also weigh on demand sentiment.
monexusa.comaudraJun 15, 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.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 73 past neutral macro events, Soybean Meal moved a median -0.3% over 5 sessions (44% higher; middle half -1.9% to +2.1%), and -1.6% 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.
