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Brazil's real fell 0.4% on July 5, 2021 after a Supreme Court justice authorized an investigation of President Bolsonaro over the COVID-19 vaccine procurement process. Protests demanded his impeachment, and the real is up about 2.6% year to date.
Political risk weakens the real, which raises the local-currency cost of imported inputs for Brazilian feed and meat producers, while lifting dollar-priced Brazilian export competitiveness.
brecorder.comReutersJul 5, 2021Not enough comparable past events yet for a historical read.
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.
