# Latam FX rallies as US jobs data dents dollar; Colombia hit by downgrade - Markets - Business Recorder

> Emerging market currencies rallied on July 2, 2021 after US nonfarm payrolls came in stronger than expected, weakening the dollar. The Brazilian real rose as much as 1.2% intraday, while Colombian assets fell after a second ratings downgrade to junk.

- Date: 2021-07-02 · published 2021-07-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/9907-latam-fx-rallies-as-us-jobs-data-dents-dollar-colombia-hit-by-downgrade-markets
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker dollar and a firmer real make Brazilian soybean and corn exports less competitive in dollar terms only at the margin, but a softer dollar generally supports dollar-priced grain and meal.

## Read by commodity

- DXY: bearish ▼
- USDBRL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-08-30 | [Latam currencies firm, Colombian central bank meeting eyed - Markets - Business Recorder](https://feedsoft.ai/events/45823-latam-currencies-firm-colombian-central-bank-meeting-eyed-markets-business.md) | -0.7% | +0.4% |
| DXY | 2022-01-13 | [Australia, NZ dollars look to break higher as US$ retreats - Markets - Business Recorder](https://feedsoft.ai/events/43388-australia-nz-dollars-look-to-break-higher-as-us-retreats-markets-business.md) | +0.1% | +0.2% |
| DXY | 2023-04-13 | [Indian rupee firms as cooling US inflation, recession woes hurt dollar - Markets - Business Recorder](https://feedsoft.ai/events/36660-indian-rupee-firms-as-cooling-us-inflation-recession-woes-hurt-dollar-markets.md) | +0.3% | -0.4% |
| DXY | 2020-12-30 | [Australian, NZ dollars on the rise as US$ crumbles - Markets - Business Recorder](https://feedsoft.ai/events/49897-australian-nz-dollars-on-the-rise-as-us-crumbles-markets-business-recorder.md) | -0.6% | +0.4% |
| DXY | 2021-08-23 | [Rebound in commodity prices, weaker dollar lift Latam currencies - Markets - Business Recorder](https://feedsoft.ai/events/45760-rebound-in-commodity-prices-weaker-dollar-lift-latam-currencies-markets.md) | -1.0% | -0.5% |
| USDBRL | 2021-08-23 | [Rebound in commodity prices, weaker dollar lift Latam currencies - Markets - Business Recorder](https://feedsoft.ai/events/45760-rebound-in-commodity-prices-weaker-dollar-lift-latam-currencies-markets.md) | -3.8% | -1.3% |
| USDBRL | 2021-03-19 | [Latam FX firm; Pemex move puts Mexico's credit rating in focus - Markets - Business Recorder](https://feedsoft.ai/events/48328-latam-fx-firm-pemex-move-puts-mexico-s-credit-rating-in-focus-markets-business.md) | +1.8% | +1.3% |
| USDBRL | 2021-08-27 | [Latam FX range bound on caution ahead of Powell speech - Markets - Business Recorder](https://feedsoft.ai/events/45832-latam-fx-range-bound-on-caution-ahead-of-powell-speech-markets-business-recorder.md) | -1.5% | +1.9% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40104625

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.