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Schroders says Brazilian financial markets are anticipating an economic pickup after a difficult start to 2021. Vaccination rates have accelerated, with about 35% of the population having received at least one dose by June 30, and Brazilian equities have outperformed wider emerging markets year to date.
A faster reopening supports domestic demand for meat and dairy, which underpins feed demand, but the effect on commodity prices is indirect and gradual.
schroders.comTom WilsonJul 6, 2021After 621 past macro events, Brazilian Real (BRL per USD) moved a median +0.2% over 5 sessions (53% higher; middle half -1.3% to +1.4%), and +0.6% 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.
