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JPMorgan's chief Brazil economist Cassiana Fernandez forecasts the real at 3.90 per US dollar by year-end, weaker than the 3.75 median forecast. She said political uncertainty has already begun to affect market expectations.
A weaker real forecast implies a higher BRL cost for Brazilian importers of dollar-priced feed ingredients. It also signals that the pension boost to the economy will be limited by weak growth.
brazil.bnews.todayBreaking NewsApr 25, 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.
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.
