# Latam FX Outlook 2023: Too good to be true? | articles | ING THINK

> ING's Latam FX outlook for 2023 expects continued tension in the region after leftward election shifts in Colombia, Chile and Brazil. It notes the Brazilian real had been a strong performer before recent fiscal concerns, and favours the Mexican peso.

- Date: 2022-11-16 · published 2022-11-16T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/38887-latam-fx-outlook-2023-too-good-to-be-true-articles-ing-think
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Forecasts of a weaker real under Lula's fiscal policy would lower Brazilian export prices in dollars, which matters for soybean, corn and meal pricing over the coming year.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-04-17 | [FX Daily: The big unwinding \| articles \| ING THINK](https://feedsoft.ai/events/30940-fx-daily-the-big-unwinding-articles-ing-think.md) | -1.4% | -2.5% |
| USDBRL | 2019-04-18 | [Brazil: The bumpy road to reform \| articles \| ING THINK](https://feedsoft.ai/events/59777-brazil-the-bumpy-road-to-reform-articles-ing-think.md) | +1.0% | +1.2% |
| USDBRL | 2025-02-14 | [Latam FX Talking: Don’t trust the rally \| ING THINK](https://feedsoft.ai/events/26257-latam-fx-talking-don-t-trust-the-rally-ing-think.md) | -1.1% | -0.6% |
| USDBRL | 2024-12-03 | [FX Daily: BRICS currencies under pressure \| articles \| ING THINK](https://feedsoft.ai/events/12462-fx-daily-brics-currencies-under-pressure-articles-ing-think.md) | -0.2% | +1.8% |
| USDBRL | 2023-10-09 | [Latam FX Talking: Carry trade unwind recommends caution \| ING THINK](https://feedsoft.ai/events/33831-latam-fx-talking-carry-trade-unwind-recommends-caution-ing-think.md) | -1.9% | -5.1% |

## Sources

- think.ing.com: https://think.ing.com/articles/latam-fx-outlook-2023-not-as-easy-as-it-looks/

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