# Further Weakening Of Brazilian Real!? FX Forecasts: USD To BRL, USD To MXN & USD/CLP | ING Economics | FXMAG.COM

> ING forecasts a weaker Brazilian real, citing high Brazilian rates that are still attractive but a tightening US environment and political risk ahead of October elections, where Bolsonaro trails Lula. ING is also bearish on the Chilean peso, with inflation near 11% and a constitutional reform pending.

- Date: 2022-06-21 · published 2022-06-21T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/41150-further-weakening-of-brazilian-real-fx-forecasts-usd-to-brl-usd-to-mxn-and-usd
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Expected real weakness would make Brazilian exports cheaper in dollar terms, which can add pressure to soybean meal, corn and sugar prices and support Brazilian export competitiveness.

## Read by commodity

- USDBRL: bullish ▲
- USDMXN: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2024-06-27 | [Market confidence wanes, weakening Brazilian real](https://feedsoft.ai/events/29988-market-confidence-wanes-weakening-brazilian-real.md) | +1.2% | +2.1% |
| USDBRL | 2021-02-23 | [USD/BRL: Brazilian real set to depreciate modestly versus the dollar over the next year – Capital Economics — Octa](https://feedsoft.ai/events/48849-usd-brl-brazilian-real-set-to-depreciate-modestly-versus-the-dollar-over-the.md) | +1.7% | +1.0% |
| USDBRL | 2024-11-29 | [What is happening to BRL as the Brazilian Real collapses against the US Dollar](https://feedsoft.ai/events/27617-what-is-happening-to-brl-as-the-brazilian-real-collapses-against-the-us-dollar.md) | +1.7% | +5.6% |
| USDBRL | 2024-08-05 | [Brazilian real depreciation stirs economic concerns](https://feedsoft.ai/events/11941-brazilian-real-depreciation-stirs-economic-concerns.md) | -3.9% | -2.0% |
| USDBRL | 2016-11-14 | [Brazil real weakens for fourth day as Trump concern boosts U.S. yields](https://feedsoft.ai/events/9711-brazil-real-weakens-for-fourth-day-as-trump-concern-boosts-u-s-yields.md) | +0.7% | -0.4% |

## Sources

- fxmag.com: https://fxmag.com/forex/further-weakening-of-brazilian-real-fx-forecasts-usd-to-brl-usd-to-mxn-usd-clp-ing-economics

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