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Brazilian stocks posted their biggest one-day gain in 11 years, with Petrobras and Vale rising 8.7% and 18.1%. The central bank's third spot intervention in two days, a $2 billion sale, helped the real post its biggest rally of the year after a record low the previous day.
The rebound followed a global relief rally that lifted Wall Street more than 4.5%.
The stronger real reduces the local-currency cost of Brazilian exports and eases pressure on imported input costs. Recovering risk sentiment across markets may also support commodity prices after the recent selloff.
kfgo.comThomson ReutersMar 10, 2020After 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.
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.
