# USDBRL reflects Copom minutes, postponement of the fiscal framework and tax reform expectations

> Analysts at forex.com framed USD/BRL direction around Copom minutes, a postponed fiscal framework in Congress, and tax reform progress in the Chamber of Deputies. They also noted that US PCE inflation data could weaken the dollar.

- Date: 2023-06-26 · published 2023-06-26T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/35697-usdbrl-reflects-copom-minutes-postponement-of-the-fiscal-framework-and-tax
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Political risk and rate expectations driving the real affect the cost of Brazilian grain and meal exports, so a weaker real tends to pressure dollar-denominated soybean and corn prices.

## Read by commodity

- USDBRL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-12-12 | [USDBRL should reflect Brazil's GDP, employment and services in the US, and data for China](https://feedsoft.ai/events/32942-usdbrl-should-reflect-brazil-s-gdp-employment-and-services-in-the-us-and-data.md) | -0.1% | -1.0% |
| USDBRL | 2024-10-31 | [Fiscal policy alignment offers relief, but U.S. data limits market gains](https://feedsoft.ai/events/28082-fiscal-policy-alignment-offers-relief-but-u-s-data-limits-market-gains.md) | -1.3% | +3.8% |
| USDBRL | 2018-08-03 | [Brazil: 2018 Article IV Consultation—Press Release; Staff Report; and Statement by the Executive Director for Brazil in: IMF Staff Country Reports Volume 2018 Issue 253 (2018)](https://feedsoft.ai/events/9468-brazil-2018-article-iv-consultation-press-release-staff-report-and-statement-by.md) | +1.6% | +11.9% |
| USDBRL | 2023-12-13 | [USD/BRL: Real well positioned despite rate cuts – Commerzbank — Octa](https://feedsoft.ai/events/32941-usd-brl-real-well-positioned-despite-rate-cuts-commerzbank-octa.md) | -2.0% | -1.6% |
| USDBRL | 2022-12-06 | [Brazil's real up ahead of fiscal policy discussion, Chile's c.bank decision eyed \| Financial Post](https://feedsoft.ai/events/38432-brazil-s-real-up-ahead-of-fiscal-policy-discussion-chile-s-c-bank-decision-eyed.md) | +1.4% | +3.5% |

## Sources

- forex.com: https://www.forex.com/en/news-and-analysis/usdbrl-reflects-copom-minutes-postponement-of-the-fiscal-framework-and-tax-reform-expectations/

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