# Haddad blames external factors for weakened real

> Brazilian Finance Minister Fernando Haddad blamed external factors, including strong US economic data, inflation and Middle East tensions after Iran's attack on Israel, for the weaker real. The real rose 1.64% to R$5.2697 per dollar, its highest close since March 2023, after the government set a new fiscal target forecasting a zero result for 2025. Analysts warned gross debt will keep rising unless the primary surplus approaches 1% of GDP.

- Date: 2024-04-17 · published 2024-04-17T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/11279-haddad-blames-external-factors-for-weakened-real
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A weaker real lowers the dollar cost of Brazilian soybean, corn and meal exports, supporting Brazilian export competitiveness and sometimes weighing on global prices. Higher oil prices from the Middle East tensions also raise input and freight costs.

## Read by commodity

- WTI: bullish ▲
- USDBRL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| USDBRL | 2024-04-16 | 5 | +5.3% | 3.2 | Published a day after the window, it attributes the real's weakness to strong US data, inflation and Middle East tensions, plus fiscal concerns, which supports the drivers of the move, though its reported real gain on 04-17 is outside the window and its text is internally inconsistent. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2025-02-25 | [Analysis: Exchange rate caught between external factors and fiscal risks](https://feedsoft.ai/events/26254-analysis-exchange-rate-caught-between-external-factors-and-fiscal-risks.md) | +2.7% | -0.1% |
| USDBRL | 2026-08-28 | [Brazilian Real Weakens as Fed Hike Bets Rise](https://feedsoft.ai/events/18106-brazilian-real-weakens-as-fed-hike-bets-rise.md) | -1.2% | +0.4% |
| USDBRL | 2024-08-13 | [Brazil's central bank had no reason to intervene in FX amid 'accelerated weakening'](https://feedsoft.ai/events/11942-brazil-s-central-bank-had-no-reason-to-intervene-in-fx-amid-accelerated.md) | -1.8% | +2.6% |
| USDBRL | 2016-11-14 | [Brazil real weakens for fourth day as Trump concern boosts U.S. yields](https://feedsoft.ai/events/9711-brazil-real-weakens-for-fourth-day-as-trump-concern-boosts-u-s-yields.md) | +0.7% | -0.4% |
| USDBRL | 2024-01-23 | [Brazil's real weakens past 5.00 per dollar for 1st time since November](https://feedsoft.ai/events/32323-brazil-s-real-weakens-past-5-00-per-dollar-for-1st-time-since-november.md) | -0.8% | -1.0% |
| WTI | 2019-03-08 | [Bank Indonesia blames external factors for rupiah depreciation - Business - The Jakarta Post](https://feedsoft.ai/events/60402-bank-indonesia-blames-external-factors-for-rupiah-depreciation-business-the.md) | +3.5% | +9.7% |
| WTI | 2026-03-27 | [Canadian dollar extends weekly decline as investors favor safe havens \| Reuters](https://feedsoft.ai/events/20391-canadian-dollar-extends-weekly-decline-as-investors-favor-safe-havens-reuters.md) | +17.8% | +1.5% |
| WTI | 2018-10-10 | [Fed rate, oil prices and regional currencies are 3 factors weakening Thai Baht late this year (Current Issue No.2931)
 - KASIKORN RESEARCH CENTER](https://feedsoft.ai/events/62799-fed-rate-oil-prices-and-regional-currencies-are-3-factors-weakening-thai-baht.md) | -4.0% | -17.0% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/politics/news/2024/04/17/haddad-blames-external-factors-for-weakened-real.ghtml

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