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Brazil's central bank began a program of foreign exchange swap auctions to roll over $12.2 billion of maturing swap contracts, and the real rose 0.6% after recovering from two-week lows. In Mexico, inflation at 5.80% in the first half of May strengthened the case for tighter monetary policy.
Central bank FX intervention limits real volatility, which supports Brazilian export competitiveness and steadies dollar-priced soy and corn values. The effect on grain prices is small and indirect.
costaalegrerestaurant.comTalia KoeMay 24, 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.
