# Brazil's real leads fall in Latam FX, Chile's peso down as copper output drops | Financial Post

> The Brazilian real fell 0.8% to its lowest level in two months intraday as investors bet on rate cuts after inflation fell and the central bank faced political pressure from President Lula. Chile's peso dropped 0.7% after copper output fell 1.1% year-on-year in April and copper prices slid.

- Date: 2023-05-31 · published 2023-05-31T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/36145-brazil-s-real-leads-fall-in-latam-fx-chile-s-peso-down-as-copper-output-drops
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

These are currency and metals moves with little direct effect on feed grain or protein supply and demand, though a weaker real can make Brazilian soybean meal and corn exports more competitive.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2021-05-12 | [Colombian peso falls on protests, Brazil real leads Latam FX declines \| Financial Post](https://feedsoft.ai/events/47400-colombian-peso-falls-on-protests-brazil-real-leads-latam-fx-declines-financial.md) | +0.5% | -2.8% |
| USDBRL | 2021-01-29 | [Brazil's real lags Latam FX on a barrage of weak data \| Financial Post](https://feedsoft.ai/events/49383-brazil-s-real-lags-latam-fx-on-a-barrage-of-weak-data-financial-post.md) | +0.5% | +3.2% |
| USDBRL | 2020-07-23 | [Latam FX weakens, Brazil's real comes off one-month high \| Financial Post](https://feedsoft.ai/events/52312-latam-fx-weakens-brazil-s-real-comes-off-one-month-high-financial-post.md) | +1.0% | +8.0% |
| USDBRL | 2021-09-14 | [Latam FX falls as U.S. inflation optimism fizzles out \| Financial Post](https://feedsoft.ai/events/45291-latam-fx-falls-as-u-s-inflation-optimism-fizzles-out-financial-post.md) | +2.3% | +6.2% |
| USDBRL | 2023-01-19 | [Mexican peso leads LatAm FX lower as recession fears grow - Financial Post](https://feedsoft.ai/events/37997-mexican-peso-leads-latam-fx-lower-as-recession-fears-grow-financial-post.md) | -0.8% | +1.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/brazils-real-leads-fall-in-latam-fx-chiles-peso-down-as-copper-output-drops

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