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Colombia's peso rose the most among Latin American currencies after Congress gave final approval to a record 314 trillion peso budget for 2021, 8.3% above this year. Brazil's real was flat after the U.S. ambassador said both countries aim to double bilateral trade within five years.
Currency moves in Brazil and Colombia affect the cost of their exports, including soy, corn and meal, in dollar terms. A firmer real can slow Brazilian export competitiveness, while the budget and trade news have only modest direct effect on feed prices.
financialpost.comReutersOct 20, 2020After 92 past neutral macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (58% higher; middle half -0.7% to +1.4%), and +0.4% 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.
