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TD Securities expects the Central Bank of Brazil to hold rates steady in the coming months and says it cannot do much to support the real at its upcoming meeting. USD/BRL was trading at 5.2745, down from 5.50 at the start of the month.
Expected policy stability and a weak real point to a sustained stronger-dollar cost for Brazilian buyers of imported feed inputs, while Brazilian export competitiveness for soy and corn stays supported.
forexcrunch.comFX StreetSep 16, 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.
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.
