# Latam Charts: FX in a Long-Term Macro Lens | Post

> Latin American currencies have had a weak start to 2021, with Argentina and Brazil seeing the deepest depreciations. Scotiabank forecasts broadly stronger nominal exchange rates for the region over the longer term. It sees the Mexican peso and Brazilian real as likely to benefit from positive policy developments and economic surprises.

- Date: 2021-02-13 · published 2021-02-13T12:00:00.000Z
- Category: macro · region Latin America · magnitude low
- Page: https://feedsoft.ai/events/48919-latam-charts-fx-in-a-long-term-macro-lens-post
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A stronger real and peso would lower the local-currency cost of imported feed ingredients for Brazilian and Mexican buyers, while a weaker currency raises it. The view is a medium-term macro outlook rather than a near-term supply shock.

## Read by commodity

- USDBRL: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-05-27 | [Brazilian real leads gains among Latam FX \| Financial Post](https://feedsoft.ai/events/47313-brazilian-real-leads-gains-among-latam-fx-financial-post.md) | -4.3% | -7.3% |
| USDBRL | 2023-03-31 | [EMERGING MARKETS-Latam FX up for tenth straight session, poised for strongest quarter in a year \| Kitco News](https://feedsoft.ai/events/37169-emerging-markets-latam-fx-up-for-tenth-straight-session-poised-for-strongest.md) | -1.1% | -2.1% |
| USDBRL | 2024-07-10 | [Latam FX Talking: Making the most of a short-lived rebound \| articles \| ING THINK](https://feedsoft.ai/events/9456-latam-fx-talking-making-the-most-of-a-short-lived-rebound-articles-ing-think.md) | +0.5% | +3.9% |
| USDBRL | 2023-09-11 | [Latam FX Talking: Large easing cycles in Brazil and Chile \| articles \| ING THINK](https://feedsoft.ai/events/34324-latam-fx-talking-large-easing-cycles-in-brazil-and-chile-articles-ing-think.md) | -2.2% | +3.6% |
| USDBRL | 2021-06-18 | [Latam Weekly: Connect the Dots, Mind the Gaps \| Post](https://feedsoft.ai/events/46869-latam-weekly-connect-the-dots-mind-the-gaps-post.md) | -2.1% | +1.3% |

## Sources

- scotiabank.com: https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.latam-charts-weekly.latam-charts-weekly--february-12--2021-.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.