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The Brazilian real dipped on worries about the economy and pension reform, while other Latin American currencies rose as the dollar weakened. Minutes from the central bank's June meeting showed stagnating growth and uncertainty over reforms.
A weaker real tends to make Brazilian soybean, corn and meal exports more competitive, pressuring global prices. The move is driven mainly by domestic reform uncertainty and a broadly weaker dollar on Fed easing bets.
pensionpolicyinternational.comadminJun 27, 2019After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% 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.
