# Brazil's real, stocks slide after budget proposal; other EM currencies weak | Financial Post

> The Brazilian real and stocks fell after the incoming Lula government proposed a constitutional amendment exempting about 175 billion reais from the 2023 spending cap. Analysts said the waiver could be permanent, prompting selling in Brazilian assets and other emerging market currencies.

- Date: 2022-11-17 · published 2022-11-17T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/38885-brazil-s-real-stocks-slide-after-budget-proposal-other-em-currencies-weak
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker real improves Brazil's export margins for soybeans, corn and meal, which can encourage farmer selling and pressure dollar-denominated feed prices.

## 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 | 2023-01-02 | [Brazilian real, stocks kick off 2023 on a lower note \| Financial Post](https://feedsoft.ai/events/37981-brazilian-real-stocks-kick-off-2023-on-a-lower-note-financial-post.md) | -0.4% | -3.6% |
| USDBRL | 2024-06-26 | [Currencies from Mexico, Brazil Lead Emerging Peers Lower \| Financial Post](https://feedsoft.ai/events/29991-currencies-from-mexico-brazil-lead-emerging-peers-lower-financial-post.md) | +4.4% | +3.7% |
| 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 | 2016-11-01 | [Brazil, Mexico currencies weaken after strong U.S. data](https://feedsoft.ai/events/11054-brazil-mexico-currencies-weaken-after-strong-u-s-data.md) | +1.0% | +6.9% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/brazils-real-stocks-slide-after-budget-proposal-other-em-currencies-weak

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