# Brazilian real hits 2-week low, Chilean peso slips before rate move | Financial Post

> Brazil's real fell 2% to its lowest in over two weeks after the government proposed a constitutional amendment to offset state tax revenue losses from a temporary ICMS cut on diesel and gas. Chile's peso slipped 0.5% as copper prices fell on lower Chinese demand concerns.

- Date: 2022-06-07 · published 2022-06-07T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/41152-brazilian-real-hits-2-week-low-chilean-peso-slips-before-rate-move-financial
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Fiscal stress and a weaker real can shift Brazilian export pricing for soybeans, corn and meal, while diesel tax cuts aim to ease inflation in fuel-linked freight and feed costs.

## Read by commodity

- DIESEL: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2022-06-28 | [Chilean peso rallies off record lows, Mexican peso slumps 1% \| Financial Post](https://feedsoft.ai/events/41165-chilean-peso-rallies-off-record-lows-mexican-peso-slumps-1-financial-post.md) | +3.5% | +3.1% |
| 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 | 2020-11-11 | [Brazil's real, Mexican peso hit by tepid economic data \| Financial Post](https://feedsoft.ai/events/50377-brazil-s-real-mexican-peso-hit-by-tepid-economic-data-financial-post.md) | -1.2% | -5.9% |
| USDBRL | 2023-05-31 | [Brazil's real leads fall in Latam FX, Chile's peso down as copper output drops \| Financial Post](https://feedsoft.ai/events/36145-brazil-s-real-leads-fall-in-latam-fx-chile-s-peso-down-as-copper-output-drops.md) | -3.0% | -4.3% |
| USDBRL | 2023-01-20 | [Brazil's real set for 2% weekly loss on worries over c.bank independence \| Financial Post](https://feedsoft.ai/events/37979-brazil-s-real-set-for-2-weekly-loss-on-worries-over-c-bank-independence.md) | -2.6% | +0.2% |
| DIESEL | 2020-09-29 | [Palm Oil's Biofuel Goals Just Got a Whole Lot Harder to Meet \| Financial Post](https://feedsoft.ai/events/51199-palm-oil-s-biofuel-goals-just-got-a-whole-lot-harder-to-meet-financial-post.md) | -0.4% | -1.5% |
| DIESEL | 2020-09-09 | [Second wave of floating storage triggered by ailing oil market \| Financial Post](https://feedsoft.ai/events/10507-second-wave-of-floating-storage-triggered-by-ailing-oil-market-financial-post.md) | +2.6% | +10.7% |
| DIESEL | 2020-09-30 | [Europe's Oil Refineries Struggling to Cope With Diesel Glut \| Financial Post](https://feedsoft.ai/events/51273-europe-s-oil-refineries-struggling-to-cope-with-diesel-glut-financial-post.md) | +6.8% | +4.4% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/brazilian-real-hits-2-week-low-chilean-peso-slips-before-rate-move

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