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Latin American currencies fell against the dollar on Wednesday, with the Brazilian real and Argentine peso among the weaker, as traders reacted to Fed comments that supported further US rate increases. Brazil's October presidential election kept traders cautious on the real.
A firmer dollar and weaker real lower the cost of Brazilian grain and meal exports, which can pressure global soybean and corn prices while Brazil remains a major supplier.
en.mercopress.comJul 19, 2018After 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 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), 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.
