# Brazil: Real Trouble?

> The Brazilian real has fallen about 12% against the dollar year-to-date, the worst performing major currency, amid concerns over President Lula's looser economic rhetoric. The government announced a BRL15 billion spending freeze to meet its 2024 fiscal target, with further cuts of BRL10-15 billion likely needed.

- Date: 2024-08-09 · published 2024-08-09T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/11943-brazil-real-trouble
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Currency weakness and fiscal discipline shape Brazil's export competitiveness for soybeans, corn and meal, and influence domestic feed input costs and global trade flows.

## Read by commodity

- SBM: neutral
- CORN: neutral
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2025-08-28 | [Brazil](https://feedsoft.ai/events/23530-brazil.md) | +0.6% | -1.7% |
| USDBRL | 2025-02-19 | [Brazilian Real Weighed by Trade Fears](https://feedsoft.ai/events/26258-brazilian-real-weighed-by-trade-fears.md) | +1.4% | -0.3% |
| USDBRL | 2018-06-07 | [Brazil's Real Is in Free Fall - Bloomberg](https://feedsoft.ai/events/5377-brazil-s-real-is-in-free-fall-bloomberg.md) | -2.8% | +2.8% |
| USDBRL | 2026-03-26 | [Brazilian Real Stabilizes Around 5.24](https://feedsoft.ai/events/20381-brazilian-real-stabilizes-around-5-24.md) | -1.3% | -4.8% |
| USDBRL | 2023-06-30 | [Brazilian Real Technical Analysis: USD/BRL, EUR/BRL](https://feedsoft.ai/events/35694-brazilian-real-technical-analysis-usd-brl-eur-brl.md) | +0.3% | -2.4% |
| SBM | 2025-12-03 | [Brazilian Real Strengthens for 2nd Session](https://feedsoft.ai/events/8058-brazilian-real-strengthens-for-2nd-session.md) | -3.2% | -4.0% |
| SBM | 2016-11-10 | [USD/BRL: Brazilian real tumbles to lowest since June — Octa](https://feedsoft.ai/events/5468-usd-brl-brazilian-real-tumbles-to-lowest-since-june-octa.md) | +0.0% | +1.9% |
| SBM | 2019-01-29 | [Brazilian real likely to strengthen further \| Lombard Odier](https://feedsoft.ai/events/61297-brazilian-real-likely-to-strengthen-further-lombard-odier.md) | -0.5% | -2.9% |

## Sources

- economics.bmo.com: https://economics.bmo.com/en/publications/detail/e17f2d44-5d2e-4929-a00c-b5a13c4214ba/

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