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The Brazilian real, the worst-performing floating EM currency in 2020, has recovered about 10% against the dollar over the last two weeks, returning to 5.3 per dollar from above 5.9. The article notes that the Covid-19 epidemic is accelerating sharply in Brazil and that capital flight and falling oil prices have weighed on the currency.
Dollar weakness and some EM recovery have supported the real's rebound.
The epidemic's spread weighs on Brazilian growth and feed demand, but the stronger real raises the local cost of Brazilian exports, which can marginally support global feed ingredient prices.
exportplanning.comAlba Di Rosa, Marzia Moccia, Marcello Antonioni29 Mei 2020Setelah 244 peristiwa bearish dari jenis apa pun sebelumnya, Real Brasil (BRL per USD) bergerak median -0,4% selama 5 sesi (43% lebih tinggi; separuh tengah -1,7% sampai +0,9%), dan +0,1% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Describes the real's roughly 10% rebound from above 5.9 to about 5.3 per dollar over two weeks, which matches the -7.5% USD/BRL move, attributing it to dollar weakness and an EM recovery; it is dated after the window but describes the same move.
