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Brazil's government approved spending cuts to meet its fiscal framework, according to a finance minister, after a sell-off in Brazilian assets over fiscal concerns. The real rose nearly 2% against the dollar on the news, after weakening about 13% year to date.
Credible spending cuts ease fears of fiscal slippage and support the real, which lowers the cost of dollar-priced Brazilian feed imports. A weaker real would otherwise raise the local cost of imported feed ingredients.
reuters.com3 Jul 2024Setelah 13 peristiwa kebijakan bearish sebelumnya, Real Brasil (BRL per USD) bergerak median -3,4% selama 5 sesi (15% lebih tinggi; separuh tengah -3,4% sampai -1,3%), dan -1,9% 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.
Government approval of spending cuts to meet the fiscal framework eased fiscal concerns, triggering a sentiment-driven real rally of nearly 2% that contributed to the BRL per USD decline.
