# Lula's Win Pushes Brazil Real to 15-Month Low, Compressing EWZ

> The dollar rose over 2.8% in a week to close at 5.6687 reais on November 13, the real's weakest level since July 2025, after President Lula won a narrow fourth term in the October runoff. Investors are concerned about public spending plans and fiscal discipline, and the central bank has been adjusting its policy stance.

- Date: 2026-11-15 · published 2026-11-15T15:17:25.176Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/101451-lula-s-win-pushes-brazil-real-to-15-month-low-compressing-ewz
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Currency weakness in Brazil makes its exports cheaper in dollar terms and can support more Brazilian soybean and corn selling, adding pressure to world feed prices. Fiscal worries add volatility to the real.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-10-31 | [Brazil's real down after Lula wins presidential election; Bolsonaro yet to concede](https://feedsoft.ai/events/39344-brazil-s-real-down-after-lula-wins-presidential-election-bolsonaro-yet-to.md) | -5.8% | -1.1% |
| USDBRL | 2020-07-23 | [Latam FX weakens, Brazil's real comes off one-month high \| Financial Post](https://feedsoft.ai/events/52312-latam-fx-weakens-brazil-s-real-comes-off-one-month-high-financial-post.md) | +1.0% | +8.0% |
| USDBRL | 2021-03-03 | [Brazil real slumps to three-month low as central bank intervenes selling $2bn - Markets - Business Recorder](https://feedsoft.ai/events/12205-brazil-real-slumps-to-three-month-low-as-central-bank-intervenes-selling-2bn.md) | +1.7% | +0.6% |
| USDBRL | 2020-12-28 | [Chilean, Colombian pesos rise; Brazil's real at near 1-mth low](https://feedsoft.ai/events/49939-chilean-colombian-pesos-rise-brazil-s-real-at-near-1-mth-low.md) | +0.7% | +3.9% |
| USDBRL | 2017-06-26 | [Slumping Commodity Prices Pressure the Brazilian Real in 2Q17](https://feedsoft.ai/events/70712-slumping-commodity-prices-pressure-the-brazilian-real-in-2q17.md) | -0.7% | -5.4% |

## Sources

- brznews.com: https://brznews.com/article/investing-lula-s-win-pushes-brazil-real-to-15-month-low-compressing-ewz

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