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Latin American currencies including Brazil's real, Chile's peso and Colombia's peso are recovering in December after hitting record lows in November amid violent protests. The article suggests the worst of the currency selloff may be over.
A firmer BRL makes Brazilian commodity exports less competitive in dollar terms, which can weigh on soy and corn export prices, while a stronger real reduces import costs for Brazilian feed ingredients.
bloomberg.comPhilip Sanders, Sydney MakiDec 5, 2019After 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.
