# Brazilian real, stocks kick off 2023 on a lower note | Financial Post

> The Brazilian real fell 1.1% against the dollar in thin trading on January 2, the first session of the year, after Lula was sworn in as president. Brazilian stocks also fell, led by Petrobras, after Lula signed a decree and criticized the spending ceiling.

- Date: 2023-01-02 · published 2023-01-02T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/37981-brazilian-real-stocks-kick-off-2023-on-a-lower-note-financial-post
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Fiscal concerns and a weaker real can shift Brazil's export competitiveness for soybeans, corn and meal, and fiscal uncertainty adds to currency volatility affecting feed commodity pricing.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-06-07 | [Brazilian real hits 2-week low, Chilean peso slips before rate move \| Financial Post](https://feedsoft.ai/events/41152-brazilian-real-hits-2-week-low-chilean-peso-slips-before-rate-move-financial.md) | +6.3% | +13.7% |
| USDBRL | 2022-11-17 | [Brazil's real, stocks slide after budget proposal; other EM currencies weak \| Financial Post](https://feedsoft.ai/events/38885-brazil-s-real-stocks-slide-after-budget-proposal-other-em-currencies-weak.md) | +0.7% | -0.5% |
| 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 | 2022-12-07 | [Brazilian real up on fiscal relief; Peru's sol falls amid political turmoil \| Financial Post](https://feedsoft.ai/events/38510-brazilian-real-up-on-fiscal-relief-peru-s-sol-falls-amid-political-turmoil.md) | +0.5% | +2.7% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/brazilian-real-stocks-kick-off-2023-on-a-lower-note

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