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Brazil's real fell more than 1% against the dollar after central bank data showed record national debt and public sector deficit at year-end. Services confidence fell in January and annual producer inflation hit a historic high.
Mexico's peso rose after fourth-quarter GDP beat expectations.
A weaker real raises the cost of Brazilian-origin feed ingredients and soybean meal for buyers pricing in BRL. Fiscal stress in Brazil adds to currency volatility that can shift export competitiveness.
financialpost.comReutersJan 29, 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.
