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USD/BRL rallied from around 5.50 to 5.75 the previous week and reached the 5.80s on Monday. Analysts cited higher US bond yields and concerns over a Brazilian government shutdown tied to an unfeasible budget.
A weaker real tends to make Brazilian soybean and corn exports more competitive, which can weigh on world feed grain prices, while fiscal concerns add volatility to the currency.
octaafrica.netMar 30, 2021After 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.
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.
