# Market confidence wanes, weakening Brazilian real

> Brazil's real weakened past R$5.50 per dollar, its highest level since January 2022, after President Lula's remarks on tax collection and spending. Future interest rates climbed as investors grew impatient with economic policy amid a challenging day for Latin American assets.

- Date: 2024-06-27 · published 2024-06-27T12:00:00.000Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/29988-market-confidence-wanes-weakening-brazilian-real
- 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

A sharply weaker real lowers the dollar cost of Brazilian soymeal, corn and soyoil exports, encouraging farmers to sell and weighing on world feed prices.

## Read by commodity

- SBM: bearish ▼
- CORN: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-07-02 | [Stress in domestic market continues, pressures Brazilian real](https://feedsoft.ai/events/9453-stress-in-domestic-market-continues-pressures-brazilian-real.md) | -2.8% | +1.2% |
| 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 | 2024-10-23 | [Market braces for pressure on Brazilian real as Trump’s chances rise](https://feedsoft.ai/events/28085-market-braces-for-pressure-on-brazilian-real-as-trump-s-chances-rise.md) | +0.6% | +1.4% |
| USDBRL | 2022-06-21 | [Further Weakening Of Brazilian Real!? FX Forecasts: USD To BRL, USD To MXN & USD/CLP \| ING Economics \| FXMAG.COM](https://feedsoft.ai/events/41150-further-weakening-of-brazilian-real-fx-forecasts-usd-to-brl-usd-to-mxn-and-usd.md) | +1.3% | +4.9% |
| USDBRL | 2026-06-30 | [Brazilian Real: Rising rates signal currency risk – Commerzbank](https://feedsoft.ai/events/19017-brazilian-real-rising-rates-signal-currency-risk-commerzbank.md) | -0.6% | -1.3% |
| SBM | 2024-11-29 | [What is happening to BRL as the Brazilian Real collapses against the US Dollar](https://feedsoft.ai/events/27617-what-is-happening-to-brl-as-the-brazilian-real-collapses-against-the-us-dollar.md) | -1.3% | +2.2% |
| SBM | 2024-06-28 | [Brazil's Campos Neto says a lack of confidence in handling of public accounts impacts market prices](https://feedsoft.ai/events/29987-brazil-s-campos-neto-says-a-lack-of-confidence-in-handling-of-public-accounts.md) | +5.3% | -2.8% |
| SBM | 2024-08-05 | [Brazilian real depreciation stirs economic concerns](https://feedsoft.ai/events/11941-brazilian-real-depreciation-stirs-economic-concerns.md) | -7.8% | -11.4% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/markets/news/2024/06/27/market-confidence-wanes-weakening-brazilian-real.ghtml

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