# Latam FX cheers Brazil GDP; Colombian, Mexican pesos at 9-mth highs | Financial Post

> 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.

- Date: 2020-12-03 · published 2020-12-03T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/49881-latam-fx-cheers-brazil-gdp-colombian-mexican-pesos-at-9-mth-highs-financial-post
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

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.

## Read by commodity

- USDBRL: bearish ▼
- USDMXN: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-06-24 | [Latam FX cheers weak U.S. data; Mexican central bank awaited \| Financial Post](https://feedsoft.ai/events/46802-latam-fx-cheers-weak-u-s-data-mexican-central-bank-awaited-financial-post.md) | +1.1% | +5.2% |
| 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 | 2022-05-19 | [Brazilian real leads Latam currencies higher on China lockdown easing \| Financial Post](https://feedsoft.ai/events/41606-brazilian-real-leads-latam-currencies-higher-on-china-lockdown-easing-financial.md) | -2.5% | +1.6% |
| USDBRL | 2022-11-01 | [Brazil's real jumps as presidential transition to begin, Colombia's peso at record low \| Financial Post](https://feedsoft.ai/events/38952-brazil-s-real-jumps-as-presidential-transition-to-begin-colombia-s-peso-at.md) | -2.4% | +0.2% |
| USDBRL | 2022-06-29 | [Fed rate hike bets hit Latam assets; Brazil's real jumps \| Financial Post](https://feedsoft.ai/events/41148-fed-rate-hike-bets-hit-latam-assets-brazil-s-real-jumps-financial-post.md) | +3.9% | +0.8% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/latam-fx-cheers-brazil-gdp-colombian-mexican-pesos-at-9-mth-highs

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