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The Brazilian real rose about 1% on Monday after Brazil and the United States agreed on three steps to ease trade and investment and combat corruption. Other regional currencies also gained after China's third-quarter GDP beat expectations.
Brazil's economy minister said the economy would shrink 4% this year.
A firmer real raises the dollar cost of Brazilian feed ingredients and exports, and closer US-Brazil trade ties may support future trade flows, though the effect on feed prices is modest.
financialpost.comReutersOct 19, 2020After 52 past trade events, Brazilian Real (BRL per USD) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.8%), and +0.9% 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.
