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Colombian and Mexican currencies hit nine-month highs on December 3 as oil prices rose. Brazil's real jumped 1.3% to a four-month high after third-quarter GDP showed a record pace of growth, though the reading fell short of analyst expectations.
Services sector data also showed continued expansion in November.
A firmer real lowers the local cost of Brazilian soybean and corn exports, which can weigh on dollar prices for those commodities. Gains in Latin American currencies also support regional feed demand.
financialpost.comReutersDec 3, 2020After 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.
Not enough comparable past events yet for a historical read.
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.
