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Rising Commodity Prices Benefit Latin American Nations, Particularly Brazil
ETF data story for the week of September 11 to 15, 2023.
By Trackinsight
September 19, 2023
- Commodity
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A spike in commodity prices, largely sparked by robust US economic data driving the Federal Reserve’s strict monetary policy, is delivering considerable economic advantages to Latin American nations - especially Brazil – with commodity-backed stocks benefiting significantly.
Brazil's trade surplus experienced a substantial boost, growing by 140% year-on-year (YoY) to $9.8 billion in August. This rise was due to factors such as strong domestic output and growing demand for steel from China.
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Contributions are also anticipated from record soybean imports which are likely to maintain this positive trend. High global demand for soybeans, a key Brazilian export, is majorly stimulating the nation's economy.
This explains why the Brazilian real showed remarkable resilience despite a strong greenback, rebounding from a three-month low to reach 4.86 per USD.
As an illustration, the Brazil and Latin America geographic focus segments gained +6.61% and 4.83% respectively over the week bringing their year-to-date performance to +18.08% and +16.26%.
Group Data
Funds Specific Data: 4BRZ, ALAT, RIO, IDBZ, DBX3
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