◂ Event Timeline

Nov 8, 2021MACROBrazil

Brazil's real dips on inflation woes, Chile's peso supported by copper

The Brazilian real fell about 0.5% on November 8, 2021, after IGP-DI inflation rose 1.60% in October. The Chilean peso gained 1.2% as central bank data showed October copper export revenue up 23% year on year.

WHY IT MATTERS

Persistent Brazilian inflation and rate hikes weigh on the real, which can make Brazilian grain and meal exports cheaper abroad, while stronger copper revenues show commodity export strength in Chile.

AFFECTSBrazilian Real (BRL per USD)▼

SOURCE
financialpost.comReutersNov 8, 2021

Price reaction & history

Brazilian Real (BRL per USD)▼bearishSO FAR1d +0.2%5d -1.4%20d +1.7%

After 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.

Dec 8, 2021Brazil's real rallies over 1% ahead of interest rate decision | Financial Post+0.7%
Mar 23, 2021Brazil real up on hawkish Copom minutes, EM peers hit by strong dollar | Financial Post+4.5%
Nov 1, 2022Brazil's real jumps as presidential transition to begin, Colombia's peso at record low | Financial Post-2.4%
Jul 23, 2021Brazil's real gains on rate-hike bets, but loses for the week | Financial Post-3.0%
Jun 29, 2022Fed rate hike bets hit Latam assets; Brazil's real jumps | Financial Post+3.9%

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.

Brazilian Real (BRL per USD) USDBRL · GP ▸

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