# ECOPETROL SA | Emerging Markets: Latam FX down as geopolitical jitters trigger risk-aversion

> Most Latin American currencies fell as investors moved to safe-haven assets after Hamas leader Ismail Haniyeh was assassinated in Tehran. Brazil's real dropped 1.5% to 5.73 per dollar, its lowest level in over two years, after the central bank warned about inflation expectations.

- Date: 2024-01-08 · published 2024-01-08T12:00:00.000Z
- Category: geopolitics · region Latam · magnitude low
- Page: https://feedsoft.ai/events/32417-ecopetrol-sa-emerging-markets-latam-fx-down-as-geopolitical-jitters-trigger
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The geopolitical shock lifts the dollar and weakens the real, which can make Brazilian exports cheaper, but the effect on feed commodity prices is indirect and limited.

## Read by commodity

- DXY: bullish ▲
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2017-05-19 | [Brazil's Temer: 'I won't resign' amid corruption allegations \| AP News](https://feedsoft.ai/events/71194-brazil-s-temer-i-won-t-resign-amid-corruption-allegations-ap-news.md) | -2.8% | -2.7% |
| USDBRL | 2026-06-10 | [Brazilian Real Holds Near Two-Month Low](https://feedsoft.ai/events/12076-brazilian-real-holds-near-two-month-low.md) | -1.9% | -1.1% |
| DXY | 2022-01-25 | [FX Daily: Geopolitical risk starts to take its toll in FX \| ING THINK](https://feedsoft.ai/events/12225-fx-daily-geopolitical-risk-starts-to-take-its-toll-in-fx-ing-think.md) | +0.3% | -0.4% |
| DXY | 2024-11-20 | [Geopolitical jitters – Corpay Currency Research](https://feedsoft.ai/events/27663-geopolitical-jitters-corpay-currency-research.md) | +0.8% | +1.0% |
| DXY | 2026-03-25 | [GBP/USD slips as risk aversion, sticky UK inflation lift US Dollar](https://feedsoft.ai/events/20431-gbp-usd-slips-as-risk-aversion-sticky-uk-inflation-lift-us-dollar.md) | +0.8% | -1.4% |
| DXY | 2026-03-30 | [AUD/USD weakens as Trump-driven risk aversion boosts US Dollar](https://feedsoft.ai/events/20406-aud-usd-weakens-as-trump-driven-risk-aversion-boosts-us-dollar.md) | -0.2% | -1.8% |
| DXY | 2026-03-02 | [European markets hurting as Iran war widens \| Reuters](https://feedsoft.ai/events/11002-european-markets-hurting-as-iran-war-widens-reuters.md) | +1.4% | +2.6% |

## Sources

- stockopedia.com: https://www.stockopedia.com/share-prices/ecopetrol-sa-NYQ:EC/news/emerging-markets-latam-fx-down-as-geopolitical-jitters-trigger-risk-aversion-019e6da0-79c1-73df-8c8d-874346561706/

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