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Brazil's real rose 1.3% against the dollar on Thursday and was on course for its biggest weekly gain among major Latam peers. Brazilian industrial confidence rose in May for the first time in five months, but unemployment hit a record 14.7% in the quarter to March.
A firmer real makes dollar-priced Brazilian exports such as soybeans, corn and meal less competitive in the short term, which can ease US futures. The move is driven by currency flows rather than a change in crop or export supply.
financialpost.comReutersMay 27, 2021After 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.
