◂ Event Timeline

Mar 18, 2021MACROBrazil

Brazil's real, Turkish lira rise after rate hikes; other EM FX fall - Markets

Brazil's real and Turkey's lira outperformed emerging market peers after their central banks raised rates, with Brazil's Copom lifting its key rate by 75 basis points to 2.75%. The Russian rouble fell amid rising geopolitical tensions.

WHY IT MATTERS

Brazil's rate hike and firmer real modestly affect the cost of Brazilian soy and corn exports, while the currency remains volatile on fiscal and political risk.

AFFECTSBrazilian Real (BRL per USD)▼

SOURCE
brecorder.comReutersMar 18, 2021

Price reaction & history

Brazilian Real (BRL per USD)▼bearishSO FAR1d -2.1%5d -1.8%20d +0.5%

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.

Oct 27, 2021Brazil's real gains as bets rise for large rate hike - Markets - Business Recorder+1.7%
Jan 20, 2021Brazil's real rises ahead of c.bank meeting, rest of Latam trails - Markets - Business Recorder+1.5%
Sep 27, 2021Brazil's real outperforms Latam peers - Markets - Business Recorder+0.5%
Jun 22, 2021Brazil's real bucks Latam gloom on hawkish central bank minutes - Markets - Business Recorder-1.7%
Mar 19, 2021Brazil's real rallies, eyes longest winning streak since Nov - Markets - Business Recorder+1.8%

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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