# EMERGING MARKETS-Brazilian real leads Latin American FX down in thin holiday trading

> The Brazilian real fell about 1% on Dec 27 as Brazil's bank loan costs hit a five-year high and defaults rose. Analysts noted record sovereign bond redemptions next year and fiscal strain from Lula's spending package.

- Date: 2022-12-27 · published 2022-12-27T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/38431-emerging-markets-brazilian-real-leads-latin-american-fx-down-in-thin-holiday
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Currency weakness and tighter credit in Brazil can shift the export incentive for soy and corn, but the effect on grain prices is typically modest.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2023-05-02 | [EMERGING MARKETS-Brazil's real leads Latam FX down, stocks near one-month low \| Kitco News](https://feedsoft.ai/events/36149-emerging-markets-brazil-and-apos-s-real-leads-latam-fx-down-stocks-near-one.md) | +0.1% | +1.5% |
| USDBRL | 2018-05-18 | [EMERGING MARKETS-Brazil real slumps despite intervention amid emerging market selloff](https://feedsoft.ai/events/9713-emerging-markets-brazil-real-slumps-despite-intervention-amid-emerging-market.md) | -1.8% | +1.2% |
| USDBRL | 2022-11-10 | [EMERGING MARKETS-Brazil's real sinks 4%, other FX rally on dollar weakness](https://feedsoft.ai/events/38888-emerging-markets-brazil-s-real-sinks-4-other-fx-rally-on-dollar-weakness.md) | +6.0% | +1.7% |
| USDBRL | 2019-11-26 | [EMERGING MARKETS-Brazilian c.bank intervenes as real slumps; Colombian peso drops on tax reform](https://feedsoft.ai/events/56346-emerging-markets-brazilian-c-bank-intervenes-as-real-slumps-colombian-peso.md) | -0.5% | -3.1% |
| USDBRL | 2024-07-02 | [Understanding the Storm in Brazilian Markets](https://feedsoft.ai/events/9457-understanding-the-storm-in-brazilian-markets.md) | -2.8% | +1.2% |

## Sources

- finance.yahoo.com: https://finance.yahoo.com/news/emerging-markets-brazilian-real-leads-140114119.html

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