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Rabobank reports Brazilian assets rallied the previous week, with country risk falling to a two-month low, the Ibovespa up 2.6% and the real the top performer among 35 major currencies at 3.78 per dollar. It cut its 2018 GDP forecast to 1.3% because of the truckers' strike and says slow activity keeps inflation constructive.
A stronger real makes Brazilian commodity exports more expensive in dollar terms, a modest support factor for global grain and meal prices.
sputnikglobe.comJul 21, 2018After 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.
