# Bolsonaro rallies base but turns off allies and markets

> Brazilian markets sold off after the Tuesday national holiday, with the real weakening more than 2% against the dollar. Traders cited concerns over President Bolsonaro's hardening political stance. Stocks also fell nearly 3%.

- Date: 2021-09-08 · published 2021-09-08T12:00:00.000Z
- Category: macro · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/45289-bolsonaro-rallies-base-but-turns-off-allies-and-markets
- Commodities: [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

Political turmoil weakens the real, which makes Brazilian soybean and corn exports cheaper in dollar terms and can encourage farmer selling. Feed buyers should watch for further currency-driven export price moves.

## Read by commodity

- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDBRL | 2019-03-28 | [Bolsonaro struggles to sell Brazil pension bill as markets tumble](https://feedsoft.ai/events/60305-bolsonaro-struggles-to-sell-brazil-pension-bill-as-markets-tumble.md) | -2.9% | +0.4% |
| USDBRL | 2026-05-13 | [Brazil markets rattled by report linking Flavio Bolsonaro to disgraced banker \| Reuters](https://feedsoft.ai/events/19462-brazil-markets-rattled-by-report-linking-flavio-bolsonaro-to-disgraced-banker.md) | +2.9% | +5.6% |
| USDBRL | 2023-01-09 | [Brazil's Currency Falls Vs. Dollar After Riot by Bolsonaro Supporters - Markets Insider](https://feedsoft.ai/events/37983-brazil-s-currency-falls-vs-dollar-after-riot-by-bolsonaro-supporters-markets.md) | -3.0% | -1.0% |
| USDBRL | 2024-06-25 | [Lula’s spending plans turn heat on Brazilian markets](https://feedsoft.ai/events/29989-lula-s-spending-plans-turn-heat-on-brazilian-markets.md) | +3.4% | +3.1% |
| USDBRL | 2026-10-26 | [Analysts forecast Brazil market plunge after Lula turnaround win By Reuters](https://feedsoft.ai/events/17286-analysts-forecast-brazil-market-plunge-after-lula-turnaround-win-by-reuters.md) | +7.6% | — |

## Sources

- reuters.com: https://www.reuters.com/world/americas/bolsonaro-rallies-base-turns-off-allies-markets-2021-09-08/

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